Working in conjunction with Vacant Space Management, we provide ethical and cost effective solutions to both mitigate holding costs and create income on empty buildings.
Since enforcement of the Rating (Empty Properties) Act in 2007 all vacant commercial and industrial properties are liable to 100% of the business rates payable. For all owners this is a drain on resources and cash flow with liabilities for some firms rising into the millions per annum. Therefore it is wise to look at ways in which to reduce these liabilities.
Vacant Space Management was set up in 2009 by two property veterans identifying entrepreneurial and ethical ways in which landlords could reduce holding costs whilst staying on the right side of Local Authority opinion. We specialise in the ethical and legal temporary occupation of commercial property without interference to landlords medium and long term objectives.
Our service features in the letting of properties to connected companies for short term durations, helping to generate 3 or 6 month relief periods at the end of the occupation. An increasingly large proportion of our service is the delivery of bona fide charity occupations resulting in a pro-rata reduction of the landlord’s liability. In this way our clients EPR liabilities are mitigated by 80-100% with an ethical and socially responsible use of their vacant properties.
With offices in London and Milton Keynes, VSM operate throughout the UK with some the largest funds, institutions, prop co’s and developers as clients, valuing the experienced, professional and ethical service provided. VSM administer the accounting function and the grant of relief for rates on all vacant buildings and their parts.
With the introduction of Council rate retention, increasingly, empty rates mitigation is being challenged as avoidance and therefore in order to succeed, stringent criteria must be met. Our strength is our attention to detail resulting in the consistent reduction of client’s costs.
If you would like to know more please contact: firstname.lastname@example.org or call 01244 893 689 or you can complete our on-line form.