The client:
Willmott Dixon is a large British based property company with substantial interests across the country.
Be Living, a joint venture between Willmott Dixon and EcoWorld International, a global Malaysian firm, has specific stakes in the London area. This goes as far to include being the developmental partner for Brentford Football Club on their new stadium.
The overall rateable value of the property was reduced by nearly 27%
What we did:
Our analysis of data provided by London Borough of Bromley identified empty properties liable to Be Living (Bromley North) Limited with potential to benefit from a business rates reduction. By combing the empty properties into a single valuation, our targeted algorithms had found precedents to reduce the overall price of the property.
We ultimately contacted Willmott Dixon, learning they were responsible for the business rates at this specific property, and were instructed to argue on their behalf.
We built a case to submit to the Valuation Office Agency; detailing the relevant precedents and providing evidence of how the circumstances met all the necessary ingredients dictated by legislation.
The result:
Due to the strength of our application, it was accepted at Check stage, the earliest possible opportunity for the Valuation Office Agency to agree with our case. The overall rateable value of the property was reduced by nearly 27% and this was backdated to 2018, creating a significant refund and reducing the rates moving forward.