Tiger UK Midlands Portfolio Expansion
The Cushman & Wakefield Business Rates team were instructed by Tiger to provide rating advice for their expansion of their Midlands portfolio. When instructed in October 2014 Tiger had 2 stores, but had an ambitious growth plan – as of June 2016 the portfolio had grown to 20 stores.
Our instruction was to review and verify all rates matters with a view to limiting rates liability as much as possible and to provide budgetary advice and forecasting for the impact of the 2017 revaluation.
Proactive account management to review rates matters at all new sites as soon as acquired, and provide budget advice for potential new sites and existing sites so that rate liability could be understood.
- Regular contact with client to develop information flow
- Thorough review on acquisition – both of bills, and rate able value
- Monthly tracker issued – showing savings, and liability
- £134,000 of savings since instruction purely by correcting billing errors and identifying opportunities for relief
- Accruals set up for shops which are not assessed for rates
- Understanding of future liabilities through annual forecasting
- Impact of 2017 revaluation understood by undertaking revaluation exercise