Ellandi Leads Community Response to Rates Revaluation
Posted by Ellandi on 19th Oct 2016
The UK’s leading Community Shopping Centre investor Ellandi has taken an unprecedented step of not only liaising with tenants across their portfolio in response to government proposals but other local business within the towns in which they invest.
Faced with the challenge of the 2017 revaluation and the revised appeal process, Ellandi selected Montague Evans to lead their response across their 7.5million sq ft portfolio. Their main focus is working with Ellandi’s 1,700 tenants to ensure a co-ordinated response to the controversial changes, including “Check Challenge Appeal”, which imposes strict time limits for dealing with appeals once served.
The “Check Challenge Appeal” increases the risk of agreed tones of value being set too high, as small individual ratepayers may not utilise the collective bargaining power available to them. This makes a strategic approach by landlords of shopping centres, with effective tenant communication, more crucial than ever.
Ellandi’s scale and Montague Evans’ expertise will ensure optimal outcomes within the 29 shopping centres across the UK, but in an unusual move Ellandi and Montague Evans have also reached out other business groups in the wider towns to ensure fair business rates are levied across the wider towns.
Mark Robinson, Property Director commented, “As often the largest investors in our towns, we always look to work with other stakeholders to promote the vitality of the wider area for the benefit of the whole community. The current rates reforms are a difficult challenge for major businesses like us, so are a potential nightmare for independent retailers, ‘High Street Heroes’ who add so much to our local towns, whether they are in our shopping centres or not.”
To ensure that local traders have access to market leading advice and the resources of the UK’s fourth largest shopping centre owner, on the 15th of September Montague Evans held a meeting with the Nailsea Chamber of Commerce to explain how the changes would affect smaller businesses and how Ellandi is responding.
Will Robinson, Partner at Montague Evans commented “Nailsea is a great example of seeing the wider picture. We are working with the Nailsea Chamber of Commerce in conjunction with the retailers at Ellandi’s Crown Glass Shopping Centre. Through this process, we will be able to educate the local business owners on the forthcoming revaluation and reassure them that help is available at no cost to them.”
Local businessman Ian Thompson, member of the Nailsea Chamber of Commerce said “Since the meeting, new RV’s have been released. There remain anomalies which Ellandi and their consultants will address, but it's clear that our “Indi’s” should enjoy significant rates payable reductions and many more will enjoy the benefit of the increased rate relief ceiling with no or half rates payable.”
Mark Robinson added, “Independent retailers give towns that local feel and personal touch that consumers and Ellandi hugely value. This year we are supporting Indi’s with our #Indi2016 campaign, our rating initiative with Montague Evans and Ellandi’s team getting ‘Back to the Floor” later this year.”