Date
Service
Business Rates
Sector
Financial

Expansion of Rating Team

 

National firm of Chartered Surveyors Eddisons has appointed John Hayward as National Head of Rating.

Mr Hayward, formerly of business rates specialists CVS and King Sturge, will head up a department of five in Manchester and oversee specialist teams in Leeds,London and Birmingham.

Meanwhile, Eddisons who work with high street retailers and independents has added its support to industry proposals to limit the above inflation increase on business rates which are due to come into force on April 1st.

They claim another hike in rates this year, which are likely to increase by an average of 5.6%, a 20 year high based on the September 2011 Retail Prices Index, will put further pressure on small and medium sized businesses.

“There is a real cause for concern among small and medium sized businesses on how they will afford such an increase when they are fighting to stay afloat in the current economic climate.

‘We are making more rating appeal applications under ‘hardship grounds’ to obtain an earlier discussion period with the Valuation Office Agency, which will ultimately lead to our clients receiving any cash rebate due as soon as possible, to help with their cashflow,” said Mr Hayward.

With more people than ever before spending online, the figures recently released by the Local Data Company reveal 48,000 empty retail units in the UK in 2011, a figure which equates to 14.3% of all shops on the high street, in retail parks and shopping centres.

This figure is predicted to rise further in the next couple of years with weak consumer confidence, rising unemployment and some of the more familiar names scaling back operations.

According to Eddisons the commercial office sector is also being badly hit.

Mr Hayward said; ‘It is not just retailers that are paying the price; many city centres across the UK have a significant over supply of office space which means that the rates paid by businesses in some areas are up to 20% more than where they should be.’

For more information please contact Eddisons rating department on 0333 6000 110 or click here

 

Written by: Richard Roe on Friday 09/03/2012