Acting on behalf of R O’Dell Holdings Ltd, London Clancy have sold 36,38,40 Station Road and 1 West Lane, Hayling Island PO11 0ER.
The site and premises had the benefit of a Planning Consent for a new development of 18 apartments ranging from 1 bed to 3 beds plus 3 Retail Units over a site area of circa 0.16 Ha (0.40 acres).
The price obtained was in line with the guiding price of £1m Subject to Contract and was sold to a private developer.
Jim London of London Clancy comments, “This shows the continuing strong interest from developers for the right type of product, including mixed schemes in suitable locations.”
R O’Dell (Holdings) Ltd has a long association with the local area having bought 36 & 38 Station Road in 1989 and ran a hardware and DIY store through its subsidiary Hayling Hardware Ltd until 1996 when that business relocated to Elm Grove. R O’Dell Holdings is now a small family owned Property Company that is keen to improve the locality by replacing the current substandard buildings with a quality development which the community could be proud of. We have put a considerable amount of time and effort into liaising with Havant Borough Council planning officers and incorporating their comments into our proposals which secured the grant of planning.
The site provides a new shop (which could be subdivided into 3 smaller shops), 18 new flats, car parking and new public realm.
With the successful sale of the site R O’Dell Holdings intends to expand and develop a commercial scheme in the centre of Southampton.
For further details contact
CHECK CHALLENGE APPEAL – THE NEW BUSINESS RATES
Following on from the 2017 Rating Revaluation, the Government have radically revised the business rates appeal process as from 1st April, 2017 and introduced a new three-stage system, Check Challenge Appeal (CCA). The new system has been fraught with problems over the last few weeks as the Valuation Office Agency (VOA), ratepayers and their agents have endeavoured to engage with an unnecessarily complex, burdensome and potentially protracted new scheme which appears to have as its sole objective the discouraging of business ratepayers from challenging their new 2017 rateable values.
Of particular concern is the extra work being imposed upon ratepayers before they can seek assistance from an agent.
The new stepped approach is as follows –
1.1 Before a ratepayer and their agent can access the full valuation information relating to the rateable value for their property, the ratepayer must first register to use the VOA CCA online service.
1.2 This involves creating an account with the Government Gateway online service and two main steps for the ratepayer. Firstly, the ratepayer’s company needs to create an organisation Government Gateway ID. Secondly, the ratepayer’s contact is obliged to verify their identity and create a personal record with proof of ID being required, (UK passport, P60 or PAYE details).
1.3 The ratepayer is then required to link their Gateway account to their premises as shown within the VOA website and providing a copy of the current rates bill. Each of the ratepayer’s properties must be linked separately.
1.4 Once the ratepayer has registered as above, a “dashboard” home page will enable properties to be managed, further properties to be linked and at that stage only, the ratepayer can appoint an agent. To complete the appointment, the ratepayer will need the agent’s unique registration code.
2.1 Having registered for CCA, the next phase of the appeal process involves checking the factual information with regards to the subject property. Again this is completed online and the ratepayer/agent must have full survey information available whilst carrying out the “check” as the information cannot be changed once submitted.
2.2 The VOA will then review the suggested changes and request evidence to support those changes, for example, plans, leases and photographs. The VOA have a maximum of 12 months to consider the information supplied and to decide as to whether they accept the alterations being proposed by the ratepayer.
3.1 Once the VOA have issued their Check decision, or 12 months have elapsed since the ratepayer’s Check submission, the rateable value can be challenged in valuation terms by the ratepayer submitting the appropriate form with supporting evidence and statements, which must include the rent details for the subject property, the specific grounds for making the challenge and a fully supported revised rateable value.
3.2 The Challenge must be made within 4 months of the VOA Check decision.
3.3 The supporting documents for the Challenge should include comparable rental evidence, any relevant case law and a fully argued submission. Additional evidence will only be permitted at later stages during the appeal process in “exceptional circumstances”.
3.4 Once the full Challenge submission has been made by the ratepayer, the VOA have a maximum of 18 months to consider the Challenge and if appropriate engage in negotiations, finally providing their evidence and thereafter issuing their Challenge decision.
4.1 If the ratepayer does not agree with the VOA Challenge decision, an appeal can be made to the Valuation Tribunal. The appeal must be made within four months of the Challenge decision.
4.2 As at the date of this note, the Valuation Tribunal for England has yet to publish their procedures for appeals against the 2017 Rating List, but it is anticipated that the right to appeal will be limited to “certain circumstances” and will involve lodging a fee with the Tribunal which will only be recoverable if the appeal is “successful”.
Further information to follow.
Dated 27th June, 2017
Categories: Press Release
LONDON CLANCY RELOCATE THE RELOCATION SPECIALISTS
London Clancy have acted for HCR Group in moving their offices from one major office building to another at Basing View.
HCR have taken just less than 5,000 sq ft on the 8th floor at Network House.
Mark Clancy of London Clancy says “it is good news to keep such an important company as HCR within the Basing View Business Area given their long-standing connections with Basingstoke and their extensive customer base, which includes UK & International corporations, Governments and Foreign Embassies. HCR have won many awards for their specialist relocation services and their decision to remain both in the town and on Basing View is a first class endorsement of the location”.
HCR have entered into a new five year lease.
London Clancy, Chartered Surveyors and Commercial Property Consultants, are delighted to announce the appointment of Keith Enters MRICS to their team in Basingstoke as Senior Surveyor.
Keith is a Registered Valuer and will continue to deal with agency and professional advisory work across Hampshire and Berkshire from the Basingstoke Office.
Keith started his career in Newbury 10 years ago and has subsequently been based in Winchester and more recently, Andover.
Mark Clancy, joint founding Director of London Clancy says ‘We are delighted to welcome Keith and look forward to his extensive experience in the North Hampshire property market adding to our existing coverage across the region’.
Keith is the latest of three new appointments at London Clancy, with Suzanne Curtis joining as an Accounts Clerk and Tom Clancy as a Trainee Surveyor.
London Clancy, acting on behalf of Greenway Property Investments Ltd has sold the investment comprising basement and ground floors of 60 High Street Alton Hampshire and which are fully let to Nero Holdings Ltd. Trading as Caffé Nero.
The lease has 5 years left unexpired and the price obtained was £715,000 Subject to Contract which showed a yield after allowing for costs of some 6.63%.
Jim London of London Clancy commented: “This sale emphasises the continuing strong interest being shown for quality investment properties in the Regions.”
Peter Hale of Hale and Partners and Jon Elliott of JP Elliott Chartered Surveyors acted for the Purchasers, Banbury Properties Ltd.
For further information please contact: