The question of how much Business Rates are actually payable crops up a lot and I have been asked many times how much a new occupier may pay to move to Daedalus Park. There is loads of information available online and you can check to see what the Rateable Value (RV) of property at the valuation office.

Business Rates – VOA

These are the property’s already constructed at Daedalus Park

Daedalus Park Business Rates

What the space is used for determines how much the RV will be. Office or retail area will cost more than storage or workshop space and if there is a mezzanine then you will pay more for the additional space but not necessarily 100% more.

The basic rate applied to Daedalus Park appears to be £87.75 per m2 for Warehouse storage space.

130m2 ground floor area used as warehouse or storage with a rate of £87.75 per m2 has a likely RV of £11,400 pa

Things get slightly more involved when a storage mezzanine deck is installed as ether is a rate of £61.43 per m2 below the deck and £43.88 on the deck itself. This looks like a combined rate for a storage mezzanine is 105.31 per m2 and the lower rate of £87.75 for the are with a full height ceiling.

My simple view is that a 100m2 unit with a full mezzanine would have an RV of 100m2 @ £105.31m2 or £10,500 pa.

With a  much larger unit then the rate per m2 drops but the overall RV will be above the £15,000 pa limit so rates will be payable.

Example 1

600m2 ground floor area used as warehouse or storage with a rate of £82.88 per m2 has a likely RV of £49,000 pa

Add a 300m2 storage mezzanine with a combined rate of  £99.46 per m2 would take the overall RV up to £54,700 pa

Example 2

200m2 ground floor area used as warehouse or storage with a rate of £87.75 per m2 has a likely RV of £17,750

Add a 100m2 storage mezzanine then the combined rate of £105.31 per m2 would take the overall RV up to £19,300 pa

Example 3

123m2 ground floor area used as warehouse or storage with a rate of £87.75 per m2 has a likely RV of £10,795 pa

Add a 65m2 storage mezzanine then the combined rate of £105.31 per m2 would take the overall RV up to £11,935 pa

Kevin Jones – kevin@tidebank.co.uk