CVS Surveyors Hydroscand Case Study

CVS’ sterling business rates service...

James Richardson, Management Accountant, Hydroscand Ltd

Request a callback

Hydroscand

 / 
Hydroscand

Savings of £31,387

Download Case Study

“We are pleased that we took advantage of CVS’ sterling business rates service. Utilising their expertise has certainly paid off, and we are now looking forward to reinvesting the money saved back into our growing business. We would certainly recommend CVS to other businesses.”

James Richardson, Management Accountant, Hydroscand Ltd

Hydroscand was first established in Stockholm in 1969. The company experienced fantastic growth and now operates across 17 countries worldwide. Hydroscand hosts 13 branches in England and Ireland and is responsible for the sale and distribution of hose and fluid connectors.

Results

CVS has so far worked on behalf of Hydroscand across its Gloucester and Nottingham depots, generating savings of over £31,000 across the seven year Rating List.

CVS Comment:

“The reduction was based on a change of use of these premises and hence a change in the basis of valuation from retail warehouse to standard warehouse. The premises had previously been a Comet Retail Warehouse and valued at £40 per sqm. Our Client took occupation from 2014 but used the premises as a standard warehouse unit. The Valuation Office Agency agreed that there had indeed been a change in the use of the building and decided to re-value the premises on a standard industrial basis at £26 per sqm, securing a £23,250 reduction in Rateable Value for Hydroscand.”

Harry Pitt MRICS, Rating Director, CVS