The burden of older age: the transitional rate relief scheme is creating a two-tier market where developers of new schemes have a clear marketing advantage
Article Abstract:
London's high business rates means it is losing out to other financial centres, according to head of rating at Lambert Smith Hampton, Charles Partridge. The transitional rates system has meant that the rate bill has tripled in some places, almost overnight, and the cost of the transitional rate relief is borne by those whose property has dropped in value. Newer buildings will not benefit from the lower assessment value in the 1995 rating revaluation, until the gradual process of downwards phasing, and the inequality is likely to continue for three or four years.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1996
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Bread and butter
Article Abstract:
The availability of office space in Redhill, England, and Reigate, England, is at a premium with many larger companies waiting to move to the area despite increases in rent. Small units used for light industry are also in demand but in the retail sector many shops are being left empty and those in use have short leases. The reduction in people shopping in town is blamed on the relocation of larger stores, as well as difficulties with traffic and competition from other towns.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1996
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Autumn action
Article Abstract:
The office rental and leasehold market of Bromley in Kent, England, is beginning to show improvement following a slack period during 1996. The insurance company, Churchill Insurance Consultants, has decided to consolidate its business operation by taking up a large Westmoreland Place site in Bromley South. Bromley office rents have remained static even though demand has risen. Rent prices approximate fifteen pounds sterling per square foot.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1996
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