CVS Surveyors achieve Business Rates Reduction for Terex

Without a doubt, one of the most professional services we have ever received, with a great outcome to go with it.

Neil Cawood, Financial Controller, Wavin Limited

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Wavin

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Wavin Limited

Savings of £1,500,000

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"The size of our portfolio didn’t deter CVS from carrying out a sterling job across all of our sites. What’s more, they managed to successfully secure fantastic reductions across six of them. Without a doubt, one of the most professional services we have ever received, with a great outcome to go with it."

Neil Cawood, Financial Controller, Wavin Limited

Wavin Limited is the UK’s leading supplier of water management, plumbing, heating and drainage systems for the Building, Construction and Utilities markets. Highly respected within the construction industry, Wavin has a reputation for innovation and leadership, and instructed CVS to see if savings could be made across six of their sites.

Results

Wavin Limited has sites in Doncaster, Swadlincote, Chippenham, Hazelhead, Exeter and Burnley. Upon instruction, CVS carried out a full inspection across all six premises to see if savings could be made on their rates liabilities. CVS were successful in securing savings across the seven year Rating List for each of the above sites. Savings ranged from £7,500 to over £1 million across the various sites. Our Surveyor comments on the inspection carried out at the Hazelhead premises.

CVS Comment:

"After two days of on-site inspections at the Hazelhead premises, we were in a position to form a view as to the value and discuss this with the Valuation Officer. We went through and scrutinised in great detail just under 400 individual valuation line entries adopted by the Valuation Officer from the initial assessment. Challenges arose as a result of the basic values which had been adopted when making the valuation. Aspects to consider were the use of the sites, the quality and condition of the premises and the plant and machinery usage at the premises. In the course of our discussion we were successful in persuading the Valuation Officer that his initial assessment was incorrect. The outcome was an agreed revised valuation of £805,000 from £1,200,000 for the Hazelhead site, which in turn will generate savings across the seven year Rating List of over £1.1million."

Stephen Philp, Rating Managing Director, CVS