CBRE LANDMARK WIN OPENS IMMEDIATE RATE SAVING OPPORTUNITY FOR ABERDEEN BUSINESSES
The CBRE Scottish Rating team has succeeded in a landmark Material Change of Circumstance (MCC) business rates appeal case at the Grampian Valuation Appeal Committee which has opened an immediate opportunity for many Aberdeen business ratepayers to secure substantial business rate savings for the current year.
The Committee determined CBRE’s appeals at 16.5% below the Assessor’s current Rateable Values (RVs) for our client’s office premises in Aberdeen. This decision provides an immediate opportunity to other local ratepayers who own or occupy office space to challenge their current RVs and reduce rate liabilities because of the exceptional change in local economic circumstances. It may also be relevant to other property classes to seek similar reductions as a result of this case.
CBRE identified that the exceptional change in local economic circumstances was a Material Change of Circumstances for the purposes of Rating Valuation. CBRE then exclusively went on to pursue and prosecute the appeals despite very strong resistance from the Assessor and scepticism and indifference from other rating advisors who withdrew appeals on behalf of their clients.
The law and rating valuation issues in MCC appeals are complex but CBRE exclusively has the expertise in dealing with the issues specific to this case as we were the only agent involved. CBRE is therefore uniquely positioned to advise how you can take forward an MCC appeal for your own premises and maximise the potential benefits.