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Services

Vacating An Existing Property?

Various measures exist that allow occupiers and landlords to minimise their business rates liability prior to a lease break or after a termination date.

Cushman & Wakefield can help you navigate this complex area and achieve the maximum possible cost reduction.

There are a range of options that allow occupiers and landlords to minimise their liability for business rates – but the right approach also depends on the exit strategy adopted.

Void Relief
If the premises have been fully vacated, Cushman & Wakefield can make applications for statutory void rates relief. This removes business rates liability for up to three months in the case of office and retail accommodation, or up to six months for industrial and warehouse space.

Rolling Section 44a Relief
Occupiers often adopt phased exits of a premises, usually in tandem with a strategy to enter new premises. However, phased exits mean that occupiers can remain liable for business rates on areas of a premises that become vacant during the process. To minimise the resultant costs, we can apply for Section 44a Relief from the billing authority – a measure applied at the discretion of the local council.

Long-term vacant property
In cases where an occupier vacates a premises several months prior to a lease termination or where a landlord is experiencing a lengthy void period, rates liability is incurred once any void relief is exhausted. In such a scenario, we can work with occupiers and landlords to devise an intermittent occupation strategy that will minimise rates liability during the vacant period. We have a strong record of managing this intermittent occupation process on behalf of our clients, as well as liaising with the billing authority and applying for reliefs to maximise savings.

WANT TO KNOW MORE?
If you would like to find out more about our expertise or how we could work with your company, please contact a member of our Business Rates team at any time – we would be delighted to hear from you.

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WANT TO KNOW MORE?

If you would like to find out more about our specific expertise, or discover how we could work with your company, please contact a member of our team – we’d be delighted to hear from you.