Location: Reading

Client: Multi-National Corporate Occupier

Building: 110,00 sq ft Office Building

The Challenge

• The client relocated from three buildings located in the South East of England into a single new HQ office building in Reading. The phased occupation of the building coincided with the commencement of the 2017 rating list. 
• LSH were instructed to provide advice on minimising the client's rates liability for this new facility. 

Our Solution

• LSH's rating expertise and local Thames Valley market knowledge led to the creation of a three stage strategy, as follows:

1. Proactively agreeing that the building should be assessed on the last day of the 2010 rating list to take advantage of significant transitional relief
2. Agreeing with the council that the liability should start part way through the phased occupation and not the beginning
3. Securing reductions at both the Check and Challenge stages of the 2017 List appeal

Outcome

• LSH's three stage strategy achieved total savings in business rates of £775,000
• LSH continues to provide ongoing business rates advice for potential additional savings due to a material change of circumstances during 2020 to this client on all its UK occupational properties 

To see more of the work we have done for our clients across a wide range of service lines, please click here.