CASE STUDIES
Case Studies
Rating
H & M Hennes & Mauritz UK Limited
Hartnell Taylor Cook LLP are appointed to act on H & M’s behalf in connection with the rates appeal on approximately one-third of its portfolio. Hartnell Taylor Cook LLP is well placed to act on H & M’s behalf due to its knowledge of the properties through acquisitions and rent reviews. The Hennes shop at the recently developed Whitefriars shopping centre in Canterbury was entered in the rating list at:
Shop and Premises Rateable Value: £475,000
The total rent was effective from December 2004 and there was a rent free period and capital contribution towards the fit-out. Negotiations were held with the Valuation Office regarding the basis of value for large shop units and we agreed a revised RV assessment at:
Shop and Premises Rateable Value: £420,000
The Assessment reflected an allowance of 17.5% per quantum. The net savings to the client over the five year period is over £115,000.
Client: H & M Hennes