Commercial Property
Occupational costs for Business are now a major concern and Business Rates are a significant element of this cost.
The Rateable Value shown in the 2005 Rating List for properties such as factories, offices, shops, showrooms and warehouses is applied by using the Rental Method of valuation and is an estimate of the property's rental value as as 1st April 2003. The valuation has regard to the size of the unit, its location, age and quality. The assessment should also be comparable with other similar properties in the locality.
MUA surveyors will survey the property and research all relevant factors to ensure that the rateable value is correct and kept to a minimum
From 1st April 2008 the exemption from rates on vacant factory and warehouse space will be abolished and full rate liability will be payable. This will impose a substantial cost on property ownership and advice should be sought on reducing the liability on vacant property.