CVS Surveyors Hotter Comfort Concept

We are very pleased with the reductions we have received so far and will be investing the money we have saved into the design and production of Hotter shoes.

Ian Laws, Retail Operations Manager, Hotter Shoes

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Hotter Comfort Concept

 / 
Hotter Shoes

Savings of £496,880

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"We are delighted that our commitment and passion for footwear has led us to become the biggest shoe manufacturer in the UK, but our overheads have risen considerably over the past few years. We are determined not to pass these increases on to our customers wherever possible, so we were very interested to see if CVS could lower our rates bills. We are very pleased with the reductions we have received so far and will be investing the money we have saved into the design and production of Hotter shoes."

Ian Laws, Retail Operations Manager, Hotter Shoes

Britain’s largest shoe manufacturer, Hotter Comfort Concept, has been established since 1959 and has over one million happy customers. Hotter design and make shoes which combine style and comfort, manufacturing 1.6 million pairs of shoes in their Lancashire factory each year. They now make one in every three pairs of shoes manufactured in the UK. CVS were instructed to find savings across their retail stores, factory and warehouse premises.

Results

A thorough investigation of the client’s property portfolio was undertaken by CVS’ Surveyors, together with a detailed analysis of market rental transactions including open market lettings, rent reviews and lease renewals in close proximity to Hotter’s properties, to identify tonal adjustments in order to mitigate Hotter’s annual rate liability. CVS’ team of retail and industrial Surveyors have submitted compelling evidence to the Valuation Office Agency (VOA), and while only six appeals have been settled, the total Rateable Value reduction already stands at £164,500, producing significant rate savings.

CVS Comment:

"We have lodged appeals against a number of rating assessments ascribed to Hotter’s premises including retail stores and manufacturing units. By submitting well considered and accurate rental information to the VOA we have successfully reduced our client’s rate liability and generated savings which they can pour back into their core business. Our Surveyors adopt a diligent approach when investigating rating assessments through the thorough analysis of rental evidence but by also identifying disadvantages of the appeal property which are rarely accounted for in rating assessments set by the VOA. We are delighted with the results for Hotter and we expect to reduce our Client’s annual property occupation costs further as we appeal more of their branches and operational property portfolio."

Jason Gray, North West Regional Director, CVS