Chartered Surveyors & Commercial Property Consultants

News

Terms of Business Rates Review Welcomed

The Government has published its ‘terms of reference’ for its review of business rates which will include a review on the frequency of revaluations, changes to the valuation methods, and the organisations eligible for relief and exemptions. David Gauke, the Exchequer Secretary to the Treasury said the review “will consider the way in which the business rates system in England is administered by the Valuation Office Agency and local authorities, with a view to strengthening its responsiveness to changes in property values and its simplicity and transparency to business ratepayers”. The Association of Convenience Stores welcomed the mov... Read more

Stratford’s £1m CommYOUnity Money Handed Out

http://www.stratford-herald.com/local-news/7737-stratford-s-1m-commyounity-money-handed-out.html Read more

Rates Overhaul Called For

The Times reports that last month’s unexpected rise in the retail prices index has led lobbying groups to call on the government to overhaul the way in which it determines business rates. The inflation measure, which is no longer classed as a national statistic but is still used to calculate business rates, rose to 3.3% in August. The British Retail Consortium said that a 3.3% annual rise in RPI could cost retailers up to £294m and £891m for payers of business rates as a whole. It has raised serious concerns over using September’s RPI as a benchmark because it has proved to be “very unpredictable”. “There is a grow... Read more

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Two recent lettings at Bidavon Industrial Estate, Waterloo Road, Bidford on Avon

Following the Letting of Units 23 & 24 to Hunter Plastics last year Unit 20 & 21 have recently been let to Premier Sheet Metals & Wise Badger respectively. This leaves just Unit 22 of 2,627 sq ft & Unit 32 of 7,730 sq ft available. Peter Clarke & Co acted jointly with Michael Johnson & Co for the Landlord a private investor. Read more

Empty Property Rates

RICS once again calls on the government to take action on empty property rates (EPR) as the TaxPayers’ Alliance announce alarming figures. Last November RICS published results of research from our expert members into the effect of business rates on empty property: 92% viewed EPR as a barrier to town centre regeneration 89% of members felt the policy was restrictive to overall economic growth 88% considered EPR a significant deterrent for speculative building. The TaxPayers’ Alliance has now announced that a massive £1.1 billion was paid last year in business rates on empty properties between 2009-10 and 2011-12. The government must l... Read more

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Letting to Gloucester Freight Services, Waterwells Business Park, Gloucester

Terms have recently been agreed for a 5 year letting on behalf of a private investment Landlord of an 8,235 sq ft (765.18 sq m) industrial unit at Whitworth Court, Baird Road on a stepped rent rising to £45,000 in the later years. Read more

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Investment Acquisition – Unit 21 Gelders Hall Road, Shepshed, Loughbrough

Acting on behalf of a Private SIPP Investor client Peter Clarke & Co acquired this detached warehouse unit of 17,075 sq ft (1,586.3 sqm) let to Industrial Machinery Supplies Ltd on a lease expiring in 2022.     Read more

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Letting at Kingsway Industrial Estate, Kingsway Park Close, Derby

Acting for private investor clients Peter Clarke & Co have let Units 3 & 4 New Zealand Court on the Kingsway Industrial Estate, Derby which extend to around 15,030 sq ft (1,396.3 sq m) to Food Search Wordwide Ltd Read more