RVA Surveyors Secures Savings of Over £6,200 for Client Based in Cradley Heath.
Case study:
Sheet Metal Fabrication Specialist | South East
Custom sheet metal specialists covering laser cutting, welding, metal studding and powder coating.
KEY
FACTS
£6,237.50
TOTAL SAVINGS
Warehouse
PROPERTY TYPE
April ’26
REVIEW COMPLETED
The Client
Based in Bishop’s Stortford, Hertfordshire, our client specialises in sheet metal fabrication, custom metalwork, and in-house powder coating services. Located between Cambridge and London, the company serves businesses across the South West and has established itself as a trusted provider of bespoke metalwork solutions.
During the 2023 rating list, RVA Surveyors were assigned to conduct a detailed assessment of the company’s business rates to determine whether any savings could be achieved.
The Problem
Our client’s rateable value (RV) had been assessed by the Valuation Office Agency (VOA) at £36,750 in the 2023 rating list but following the detailed review, RVA Surveyors identified evidence suggesting that the assessment was overvalued.
Situated in an industrial estate, similar and adjoining properties within the same scheme had a tone reduction to £83 m2, yet our client’s property had not received this reduction which still sat at £100 m2.
The rental agreement between the client and landlord also showed the rateable value to be incorrect. Signed in December 2022, the lease agreement included a stepped-rent arrangement and a five-year rent review, which established an average rental value below the assessed RV from the VOA.
The Solution
To rectify this, a Challenge was submitted to the Valuation Office Agency (VOA) with the lease agreement showing the stepped rent and evidence of our client’s tone/price per square metre assessed incorrectly at £100/m2, which with the evidence and analysed rent would bring the tone down to £83/m2.
Updated floor plans and the revised valuation of the total area (m2) compiled by the surveyor were also submitted to further reasons for our client’s rateable value to be reduced.
The Outcome
As a result, the VOA accepted the Challenge reducing our client’s rateable value (RV) from £36,750 to £30,500, leading to overall savings of £6,237.50 dating back to the start of the 2023 rating list.
Yet with the supporting rental evidence covering the 2023 and 2026 rating lists, two Antecedent Valuation Dates (1st April 2021 and 1st April 2024) and agreed rent still below the current rateable value, this could lead to another potential reduction for our client and further savings on their liabilities.
