Is it worth it?

As part of the Solent Enterprise Zone the saving by not paying any business rates for 5 years look very attractive but easy to assume, there must be a catch or it’s too difficult to get.

What’s it worth to you if you can?

It’s worth £10’s of thousands over a 5 year period.

There appear to be 2 significant steps to get 100% business rates relief for 5 years at Navigator Park.

  • Demonstrate new permanent full time employment
  • Move in before the end of March 2018

If the Rateable Value (RV) is less than £12,000 pa then you shouldn’t need to pay anyway, but £15,000 pa is the new threshold to start paying business rates.

You could move before the deadline as we have 4 units left to sell and 1 left to rent and if you can create permanent new employment then you can apply now for 100% business rates relief.

Albion A2

189m2 without a mezzanine – Estimated RV £17,000 pa – Payable £8,150 pa

189m2 with 100m2 Mezzanine – Estimated RV – £19,500 pa – Payable £9,750 pa

Potential saving in excess of £40,000

Fearless F1

271m2 without a mezzanine – Estimated RV £23,000 pa – Payable £11,000 pa

271m2 with 100m2 Mezzanine – Estimated RV – £25,000 pa – Payable £12,000 pa

Potential saving in excess of £50,000

Centaur C1

285m2 without a mezzanine – Estimated RV £24,500 pa – Payable £12,000 pa

285m2 with 150m2 Mezzanine – Estimated RV – £26,950 pa – Payable £12,750 pa

Potential saving in excess of £60,000

These are rough guides but seem to accurately reflect what has happened already.

Compare here

www.voa.gov.uk

If you want to move soon and can create new  permanent employment then please get in touch.

Kevin Jones – 02393 877696