CVS Business Rates Surveyors get reduction for Charters

The CVS team understands our industry...

David Manchester, Managing Director, Charters Group

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Charters

 / 
Charters Group

Savings of £113,950

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“The car industry has been hit hard by the slowdown in the economy and the savings identified by CVS has released more funds for the continued growth of our business. The CVS team understands our industry and their approach has been to make the whole process of business rates appeals, rent reviews and lease renewals hassle-free.”

David Manchester, Managing Director, Charters Group

Charters Group is the leading group of Peugeot dealers in Berkshire, Hampshire, Middlesex and Surrey. It is a family-owned business with trading space including offices, showrooms and forecourts. With a Rateable Value in excess of half a million pounds across multiple sites, CVS was appointed to drive down Charters’ liability.

Results

A comprehensive survey of Charters’ showrooms and thorough review of the company’s business rates liability was evaluated by CVS Surveyor, Phillip Emerick. Using intelligence from the CVS network of specialist motor trade Surveyors across the South East, Phillip concluded that the Rateable Value for a number of Charters’ properties was excessive. CVS compiled a body of detailed valuation reports to challenge the Valuation Office Agency’s (VOA) bills. The VOA accepted that the Charters Group was being billed unfairly and agreed a reduction in their total Rateable Value of £113,950.

Further Rates

During the business rates appeal, the CVS team also identified an additional opportunity to save Charters’ money on property costs. The Lease Advisory team carried out a rent review and saved the Group £27,000 over the five year term of the lease.

CVS Comment:

"For a typical motor dealership, property will be a significant annual overhead and – at a time of high inflation and rising costs – we are seeing more and more appetite for conducting rates appeals to secure savings. Our nationwide network of specialist Surveyors, combined with our extensive car dealership Client base, means we can deliver a focused and effective service to secure significant savings."

Philip Emerick, Rating Director, CVS