Great News for Landlords and Developers!

The Supreme Court have recently agreed with ratepayers that a building undergoing redevelopment should be given a reduced value during the period of works.  The case of SJ &J Monk v Newbigin (VO) was determined on 1^st March 2017 and concerns an office building assessed at £102,000 Rateable Value.  The property was subject to strip out works prior to refurbishment and was due to be put on the market as one office with the possibility of being split into three.  The Valuation Office had argued the physical circumstances of the property should be ignored and the works were those of repair, which would be ignored for rating purposes.  The Supreme Court disagreed with the VO, siding with the ratepayers agents, and determined that the property should be described as a building undergoing reconstruction with a Rateable Value of £1.

We are calling for the Valuation Office to urgently engage with ratepayers and their agents to ensure outstanding appeals are settled as soon as possible.  Many ratepayers have been waiting years for SJ &J Monk v Newbigin to be resolved, during which time they have had to pay full rates while their rating appeals were in abeyance.

If you would like advice on the opportunities this case poses please contact David Bullimore on 0121 234 0424