The client:
3CAD are a creative enterprise in North London providing affordable studio spaces for music producers, photographers and artists.
They received a single bill for their entire unit despite there being multiple long term tenants occupying individual studios.
"We could not be happier with Holloway Bond and the whole experience of working with them!"
What we did:
We contacted 3CAD Limited as our analysis suggested there were avenues to reduce their business rates liabilities. After speaking with them and learning the configuration of their studio space, we were left with multiple avenues and means of approaching reducing their rates.
We priced out each potential avenue and assessed their viability. Ultimately, the conclusion was splitting the unit into multiple studios and requesting relief on the individual studios would maximise the saving.
A comprehensive application was sent to the Valuation Office Agency, evidencing why the property should be split, how the property should be split and how the studios should be priced once split.
"I rarely write reviews, but I could not recommend Holloway Bond, and Tom and Ella, any more highly! They really were fantastic for us."
The result:
The Valuation Office Agency ultimately agreed with our proposal, splitting the unit back to April 2017 and valuing the individual studios in a way favourable to 3CAD.
We then corresponded with the local authority on 3CAD's behalf; amending the liability of the studios and applying all relevant reliefs. 3CAD wanted to ensure that everything was as frictionless as possible for the current tenants and extra measures were taken to ensure this.
With the liabilities amended and relevant reliefs applied, 3CAD were due back a sizeable refund and their ongoing overheads had been significantly reduced, allowing them to continue to provide the studio space for creatives at an affordable rate.
What our client said:
"We could not be happier with Holloway Bond and the whole experience of working with them! As well as, of course, the ultimate outcome of our rates review and subsequent refund. Tom and Ella were both so helpful and friendly, and their knowledge and thoroughness made us feel so confident, relaxed and fully informed throughout.
We are a creative enterprise in North London doing our best to provide affordable creative studio spaces for music producers, photographers and artists. Business rates, and all the parameters within, always seemed very complex to us and, without Tom in particular, we would never have known that we were overpaying what we needed to, nor would we have been capable of navigating our way through the process of reconfiguring our rates structure, or of doing all the extensive research and number crunching that resulted in our very significant refund.
All of Tom's constant detailed communication with me was superb throughout the process. As was his dealing with all communications with the council on our behalf.
I rarely write reviews, but I could not recommend Holloway Bond, and Tom and Ella, any more highly! They really were fantastic for us. If you are running a business and feel you might have paid too much in rates, or want to find a way to lessen your business rates burden then I suggest you get in touch with Holloway Bond. They have really helped us stabilise our business."
If you are a creative looking for studio space, let us know and we can put you in touch with 3CAD!
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