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.
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
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
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.
If you want to move soon and can create new permanent employment then please get in touch.
Kevin Jones – 02393 877696