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Article: Rate relief change adds to buyers' power ; From April 1, major changes have been made to the way empty commercial properties are given rate relief while they are empty, reports Nick Seaton-Burridge of Scott Burridge Commercial.
- Article from:
- Western Morning News, The Plymouth (UK)
- Article date:
- July 3, 2008
CopyrightCopyright 2008 Western Morning News, The Plymouth (UK). Provided by ProQuest LLC. (Hide copyright information)
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From April 1, major changes have been made to the way empty
commercial properties are given rate relief while they are empty,
reports Nick Seaton-Burridge of Scott Burridge Commercial.
Prior to that date, empty industrial premises were zero rated,
while retail and offices were given a 50 per cent exemption after
three months.
In brief, the situation now is that office and retail premises
will be given 100 per cent relief for the first three months, and
industrial and warehouse premises will be given 100 per cent for the
first six months, from when the property becomes empty.
All rate relief for these properties will end after this time and
the full Non-Domestic Business Rate will be ...