Successful business rates reduction in Edgbaston for Rainbow Casino
After acquiring Rainbow Casino in Edgbaston, Birmingham, in February of this year, Double Diamond Gaming approached KWB to appeal their business rates 2005 valuation.
KWB identified grounds for a challenge against the business rates rateable value and submitted a business rates appeal in respect of the 2005 rating list. Launched on the grounds of the introduction of the smoking ban and the resulting change in trading conditions, KWB initially negotiated a £9,000 reduction in the rateable value backdated to 1st July 2007.
With the property benefitting from a major refurbishment ahead of its re-launch towards the end of last year, KWB was also able to agree a similar reduction in relation to the business rates 2010 valuation, securing a temporary removal from the rating list whilst the extensive works were carried out.
As a result, KWB has saved Rainbow Casino in excess of £35,000 over a 3 year period. Managing Director, Duncan Savage, was delighted with the outcome, enabling the company to make significant savings.
Martin Cook of KWB who acted on behalf of the casino operator said, “There are a number of grounds for appeal against your business rates and it is important that occupiers seek professional advice from a reputable, regulated company that can give them reliable and impartial advice regarding their business rates liability and business rates appeals. We are regulated by the RICS and the Code of Rating Practice and will explore all possibilities for limiting our client’s business rates liability, ensuring that their assessment is fair and accurate.”
For more information on business rates, please contact Martin Cook.