CVS Case Study - Westminster Kingsway College

this did not deter CVS from taking a thorough and professional yet personable approach to our business rates appeals.

Derek Wilkinson, Health and Safety and Compliance Manager, Westminster Kingsway College

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Westminster Kingsway College

 / 
Westminster Kingsway College

Savings of £242,000

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"Our property portfolio is complex, but this did not deter CVS from taking a thorough and professional yet personable approach to our business rates appeals. I have found the service from CVS to be consistently good."

Derek Wilkinson, Health and Safety and Compliance Manager, Westminster Kingsway College

Westminster Kingsway College is a further education college in London with centres in Camden and Westminster offering academic and vocational courses at all levels for 14-16 year olds, 16-18 year olds and adult learners over 19. They instructed CVS to see if savings could be made on their increasingly large business rates bills.

Results

CVS has worked across Westminster Kingsway College’s entire portfolio. CVS has successfully reduced this clients’ collective Rateable Value by £242,000.

CVS Comment:

"The first stage of this appeal was to identify the property and calculate its gross internal rateable area, sub divided by use; classrooms, laboratory, theatre, hall, gymnasium etc. I then valued the cost of the building in the same way. In some cases with this method, it may be necessary to use the area of a simpler substitute building. The object of the exercise is to estimate the overall building cost, depreciated for age and obsolescence, and then add in other costs such as the site value, building consultants fees and so on, taking into account the location, and any disadvantages like poor access and layout.

The total cost was then calculated using the percentage dictated by Statute to produce a Rateable Value. It became apparent after I had examined the premises in detail, that the original assessment was excessive. From carrying out such a meticulous, forensic approach, and from some skillful negotiation and support from the CVS comparable database, I was able to prove to the Valuation Office Agency that a reduction was required."

Philip Emerick, Rating Director, CVS