A group of industry leading rating agents has joined forces to launch ForeView, CoStar News can reveal.
Edward Searle, Philip Legg, Ben Nelson and Sam Walters combine 70 years’ specialist experience in business rates. The team says it will focus solely on providing best in class rating advice to property investors, developers and occupiers across all classes of property.
It adds that it is responding in particular to the government's announcement earlier this year of a major overhaul of the business rates system which it has been consulting on.
All first worked together at Edwin Hill and then at Altus Group following its takeover of the company for a period of between 14 and 19 years. Both Edwin Hill and Altus in turn have been among the key UK advisers on business rates.
Ed Searle and Sam Walters had been instrumental in running the empty rates team at Altus, and Ben Nelson and Philip Legg had been key figures running the occupier rating team.
Following its recent consultation paper, the government announced fundamental changes to the business rates system which will include an obligation for ratepayers to complete an annual return and also to notify the Valuation Office Agency (VOA) of any changes across their portfolio. In return the government has committed to more regular revaluations every three years but with much shorter appeal windows.
Philip Legg, co-founder at Foreview, said in a statement: “These changes have triggered the necessity for ratepayers and their advisers to form a more collaborative working relationship akin to the relationship businesses have with their accountants. We saw a clear opportunity to create a fresh and proactive consultancy that builds lasting relationships with our clients and adds ongoing value to their overall property strategy.”
Ed Searle and Sam Walters lead the ForeView investor and developer team having advised on rates for some of the largest property companies, pension funds, investors and developers in the UK over the last 20 years. Their expertise includes town centre regeneration projects, large office developments and speculative big box warehouses.
Searle said: "The changes in rating will also impact developers and investors during periods of vacancy. Our focus will be to provide dedicated, independent expertise through close relationships and an enhanced customer experience."
Ben Nelson and Philip Legg lead the ForeView occupier advisory team having represented some of the largest occupiers across the UK in industries such as healthcare, motor manufacturing, retail and hospitality, leisure, logistics and financial services.
The ForeView co-founders are joined by Mike Kwiatkowski who is focused on data analytics and strategic insight.
ForeView has launched from its London City office with a dedicated website at www.fore-view.co.uk