CVS Surveyors Colchester Zoo Case Study

The whole process was smooth, hassle free and the results speak for themselves.

Anthony Tropeano, Director, Colchester Zoo Ltd

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Colchester Zoo

 / 
Colchester Zoo Ltd

Savings of £63,244

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"Business rates are a complicated tax that can be a huge burden for many large outdoor leisure businesses like Colchester Zoo. We trusted CVS to assess our property because we knew that they had worked for similar business operations before. We were not disappointed. The whole process was smooth, hassle free and the results speak for themselves. The money we have saved will be invested back into the day to day running and caring for Colchester Zoo."

Anthony Tropeano, Director, Colchester Zoo Ltd

Colchester Zoo is certainly an animal-lovers favourite, having been awarded ‘The TripAdvisor Travellers’ Choice Attractions Award’, which rated Colchester Zoo as one of the top 20 zoos from around the world and in the top 10 zoos in the UK. There are currently over 270 species to see, set in 60 acres of beautiful parkland and lakes.

Results

CVS has worked for many large leisure Client’s like Go Ape and Chester Racecourse in the past, so Colchester Zoo felt in safe hands appointing them to lodge a successful appeal. Adam Handley worked closely with the Client using their trade information to ensure enough evidence was presented to the Valuation Office Agency to generate a reduction in Rateable Value. The appeal was a great success and savings of over £63,000 will be returned to the Client across the seven year Rating List.

CVS Comment:

"This particular assessment is a receipts based valuation where the trade supported the current valuation. The challenge for me was to successfully reduce the rental percentage by arguing an element of over-trading when compared to charity run Zoos, as these make up the majority of this sector. Colchester Zoo has grown significantly throughout the years, with the family operation investing heavily. In my view they are an exceptional operator- which should be distinguished from a reasonably competent operator in valuation terms. The 2005 adopted rental percentage of 7.25% was carried over between Lists. I managed to negotiate this down to 7%, leading to a £25,000 reduction effective from 01/04/10 based on my over-trading evidence, in turn producing a large rebate for our Client."

Adam Handley, Senior Surveyor, CVS