Rate Revaluation Support Programme

Minimize your rates liability with the help of our preferred rating advisor

HammersmithLondon BID is involved with the Rating advisers at Colliers CRE, a national firm of commercial property consultants, in exploring opportunities to potentially minimize our BID Members rates liability.

Colliers CRE are currently advising a number of retail ratepayers on the adverse impact of Westfield Shopping centre on various locations in West London. This issue certainly impacts on Hammersmith and if advice is required this can certainly be provided to those whose interests may not already be protected.

Looking forward, the Valuation Office Agency (VOA) carries out a revaluation of all commercial properties in England and Wales every five years and the current revaluation will take effect from 1st April 2010. You should have received a Summary Valuation identifying the proposed new assessment for your business premises upon which you rates liability will be calculated as of next year, and will shortly be receiving rate demands for the 2009/2010 financial year. There will be provisions to contest the new values once they become effective should they be deemed excessive and Colliers CRE are able to advise and potentially action appeals on Members behalf.

The final Crossrail prospectus has just been published and the threshold for inclusion for the supplement, has been raised to RV £55,000.

Colliers CRE can consider the 2010 values in conjunction with their investigations for those Members involved in the Westfield initiative, but should any Members like to discuss the implication of the draft 2010 assessment then please contact Grace Nelson Marketing Executive by filling in our contact form or call 0208 741 8157 and she will liaise will Colliers CRE to contact you.

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