REVALUATION AND OVERHAUL OF BUSINESS RATES SYSTEM

The biggest change in the Business Rates System since 1990 is about to take place. With effect from 1st April 2017 every non-domestic property in Northamptonshire will receive a new Rateable Value on which Business Rates will be assessed for the following 5 years. There are some notable increases in Rateable Value. For example the […]

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Buildings Insurance – Risk or Cost?

Buildings insurance for commercial properties is an important commodity to get right, not only does it protect the building, it can also protect any loss of rent and other consequential losses (depending upon policy terms). Over the past five or so years of recession, it has more than likely been tempting to leave the policy, […]

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Business Rates – The Hard Sell

I took a call from a client today who says that as he was being infested with swarms of flies he thought it must be time to take some advice on his Business Rates. The swarms of flies referred to are the endless hard sell phone calls coming through from so called rating consultants. My […]

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Phoenix is Emerging

Underwoods have recently completed a letting on behalf of their client, Borough Council of Wellingborough, of Unit 6 Phoenix Court to S & J Kenny Carpets.   This site already has a number of high profile occupiers such as Crown Decorating Centre, Denmans Electrical Wholesalers, Plastic Wizard Ltd and Gomex Tools Ltd.   The site […]

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Wellingborough is Open for Business

It has become increasingly difficult to find an industrial unit in recent times with demand increasing with the improving economic situation.   Wellingborough is however very much still open for business with units available from between 1,000 sq ft up to just over 5,000 sq ft all located on the easily accessible Park Farm Industrial […]

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Commercial Property Sales

Underwoods have recently completed several commercial property sales in Northampton town centre that provide further evidence as to the strength of the local market. These include:-   13-17 Bridge Street a part Grade II listed retail premises formerly occupied by White and Bishop Ltd for over 80 years has been sold to a local developer […]

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Property & Pensions

Financial advisors tend to counsel against commercial property investments as part of a pension fund on the grounds that they are illiquid, can be subject to void periods with no rental income (and related costs) and that values can go down as well as up.   However, there are very good reasons why overseas investors […]

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Rates Revaluation – The Clock is ticking

Business Rates demands issued this month will the last which show the current Rateable Values (RV’s) of non-domestic properties. The Valuation Office Agency (VOA) are working on a new Rating List which will come into force on 1st April 2017 to show new RV’s Values that will determine the amount of rates payable for the […]

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£450,000 Saved for Client upon Lease Renewal

Underwoods have recently completed negotiations and documented a lease renewal on behalf of tenant clients saving £450,000 over the term of the new lease. With the current lease not due to expire until March 2016 the occupier can now forecast rental outgoings with certainty over the next 5 years up to the rent review. The […]

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