09 June 2010

Nando’s shave almost £350,000 off station rateable value

When Nando’s large restaurant in Euston Station was revalued in the April 2010 rating review at £430,000 a year, AG&G’s Anthony Alder was asked to challenge the figure.

He discovered that an inexperienced surveyor had calculated the rating as if the restaurant were a far smaller trading unit, such as a coffee kiosk – and won a reduction to £81,000 a year.

“Since we started working for Nando’s a decade ago, we’ve saved them more than £2 million in rates payable and now work for them on a rating retainer,” says Anthony.

Derek Woodcock, Nando’s finance director, adds, “We are bombarded with offers from other organisations to look after our ratings work but we’ve stuck with AG&G – we don’t even consider the others.”

AG&G are chartered surveyors specialising in the licensed leisure industry, with the skill and experience needed to value, assess or promote a property not simply as bricks and mortar but as a business. If it involves the price of a licensed premises, its profitability, rental value, investment prospects or value in a dispute, AG&G can help.

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