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Expert Opinion

Business Rates: Why It’s Important to Consider the Market Variations in Retail

While April’s Change in Rateable Values Has Been Generally Welcomed by Retailers There Are Anomalies
Tom Whittington. (Savills)
Tom Whittington. (Savills)
By Tom Whittington
Savills
March 30, 2023 | 9:14 AM

When announced last year, the business rates revaluation was largely welcomed across the retail property sector, with an average reduction in rateable values (RVs) across England and Wales of 10%. However, as the new RVs come into effect on 1 April, it is important to consider what the implications are at local level – whether that be town, scheme or even by street.

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