In 2021, Bagnall Doyle MacMahon were asked by a large healthcare facility based in Swords to advise them on a notice they had received from the Valuation Office.
They had been notified that their rates assessment was to be reviewed following the addition of an office extension to the premises.
The Challenge
Their assessment at the time was €1,197,000 giving an annual rates bill in the order of €215,000.
The Solution
The BDM representative inspected the premises and then arranged to meet the Valuation Officer at the site for a joint inspection.
BDM pointed out that the premises were overvalued following the 2019 Revaluation process in Fingal.
Despite the addition of the extension, the valuation was reduced to €1,105,000.
The Result
Following a further appeal stage and over 12 comparisons being produced by BDM, the final figure was reduced to €832,000.
The client was saved over 30% of their annual rates bill even though there had been additional offices added.
We are Commercial Property Specialists providing advice on Agency, Local Authority Rates, Property Management, Rent Reviews and Valuations.
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