CVS Surveyors Holiday Inn Business Rates

They demonstrated in depth knowledge of the local area and the Hotel and Leisure sector...

Mr K Gill, Director, Holiday Inn Express, Ilford

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Holiday Inn

 / 
Holiday Inn Express, Ilford

Savings of £166,000

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"I am delighted with the business rates reductions achieved by CVS on behalf of the Holiday Inn, Ilford. They demonstrated in depth knowledge of the local area and the Hotel and Leisure sector to achieve these results – all risk free with their reward on savings achieved remuneration."

 

Mr K Gill, Director, Holiday Inn Express, Ilford

Working closely with our client, CVS compiled a case for the reduction in business rates at the Holiday Inn Express, Ilford, achieving an overall business rates reduction from £325,000 to £270,000 per annum. This has generated savings of over £166,000 for the client across the seven year Rating List.

Results

The original valuation was requested from the Valuation Officer. It was then checked to ensure the valuation was in accordance with the Approved Guide to Valuation Provincial Hotel Scales. It was from this that CVS realised that the original valuation did not appear to fit the above valuation scheme, and that the CVS valuation was substantially lower.

CVS Comment:

"When we realised that the original valuation of the Ilford Holiday Inn did not fit in with the Approved Guide to Valuation Provincial Hotel Scales, we presented our lower valuation to the Valuation Officer. He then conceded that the ‘Inner London Scale’ had been adopted for this premise in error. He agreed to revalue the property in line with the CVS valuation based on the appropriate ‘Outer London Location’. The resulting reduction of £55,000 was then agreed with the VOA."

Keith Stevenson, Associate Director, CVS