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Business rates – changes to the valuation of office properties

For many years, there have been standard valuation practices for multi-let office buildings where different tenants are occupying different floors in the same building. A recent case has brought about changes to how multi-occupied buildings are likely to be valued. We summarise in this article the rules that have previously applied and potential changes brought about by this case that affected businesses need to know.

Business rates revaluation 2017

Business rates seem to be in the news regularly and, following George Osborne's announcement of his proposal to devolve business rates (and revenues) to local government, the system of local government funding is again under scrutiny. In the medium to long term, implementation of this proposal is likely to mean significant changes in the rating system.

Business Rates - Valuation Tribunal decision on property guardians

A recent decision of the Valuation Tribunal (VTE) Ludgate House Limited v Ricketts (VO) and London Borough of Southwark (2018) will be of significance to owners of vacant commercial buildings who have installed live-in guardians to provide security to their properties. The Tribunal found in this case that the presence of the live-in guardians wasn’t sufficient to change the nature of the building from ‘non-domestic’ to ‘domestic’.