It takes more than luck to get an 80% rate reduction
It wasn’t luck that led to a reduction of more than 80 per cent in Luton’s Four Horseshoes’ rateable value – it took the skill of licensed leisure specialists AG&G’s Anthony Alder.
“As with other cases we’ve seen, the Inland Revenue’s valuer was highly optimistic when setting a rate of £32,500 a year and was assuming a stellar trading performance,” says Anthony, who put in an appeal on the pub’s behalf.
“In fact, the pub had been through some turbulent times over the past few years and had seen its trade fall. We were also able to show that trading at comparable pubs in the area was also much less than assumed. The adjudicator, after seeing all the evidence, accepted our proposed rateable value of £6,250 – less than a fifth of what had been set.”
For further information, contact Anthony Alder on 020 7836 7826 or e-mail email@example.com
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.