STA Travel Case Study

Thankfully, we have CVS fighting our corner and generating great reductions for us.

Ian McIntosh, Property Development Manager, UK Property, STA Travel Ltd

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STA Travel

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STA Travel Ltd

Savings of £355,000

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“We chose CVS as our rating agent based on their hassle-free, results oriented business model. We were incredibly impressed by the committed, determined and professional approach that the CVS Surveyor, Christopher Baker, adopted when it came to our site in Kensington. His perseverance has resulted in not one, but two reductions in business rates bills, which will generate fantastic savings for the company. We have 50 UK sites, all of which face increasingly high business rates bills. Thankfully, we have CVS fighting our corner and generating great reductions for us.”

Ian McIntosh, Property Development Manager, UK Property, STA Travel Ltd

STA Travel are a travel operator offering budget-friendly flights, adventure tours, gap year travel, career breaks, hotels and hostels, travel insurance and volunteer projects worldwide. With 50 stores in the UK, business rates liabilities can become a severe overhead.

Results

STA Travel decided to see if their rates liability could be reduced by taking advantage of the results based business model that CVS operate. CVS now acts on behalf of STA Travel in appealing their rates across many of their 50 UK sites, and have had great success for the client so far. The focus of this case study is on their Head Office site in Kensington, London, comprising circa 1,270 m2. For just one site, CVS successfully reduced the rateable value by a staggering 20%, a percentage way above industry average, generating significant savings for STA Travel across the seven year Rating List.

CVS Comment:

“On behalf of the Client I managed to secure a total reduction in Rateable Value from £618,250 to £490,000 at their Head Office premises in Kensington, London for the 2010 List. This was after initially merging their five assessments together to form one assessment effective from 1 April 2010. The overall reduction was achieved in two stages; the first reduction from £618,250 to £550,000 was achieved by proving there was a reduction in floor areas, as well as a discount for inferior Air Conditioning and reduced car parking from eight to four spaces. The second stage of the reduction from £550,000 to £490,000 was achieved as a result of a tone reduction. Both reductions were achieved within six months of each other, and produced strong savings for the Client on this key site over the seven year term of this Rating List.”

Christopher Baker MSc MRICS, Associate Director, CVS