Rating – Rhythm Room Night Club, Hull

REVELAN GROUP LIMITED PROPERTY
RATEABLE VALUE : £41,250 with effect from 1st April 2015
SAVINGS: £59,000

An established property investment and development company Revelan Group Limited instructed Harris Lamb’s Rating Department to look for avenues to reduce their rates liability on a Night Club and Premises in Hull. The night club known as the Rhythm Room had closed back in 2009 and had remained vacant and to let despite active marketing. With no disposal options the property was proving to be a non-income producing liability.

Harris Lamb set to work in proving a case that the property had become obsolete. Research revealed that the Hull night scene had moved elsewhere with the development of the Waterfront. The nightclub location was now being developed as a young professional residential area and as a result potential night club operator’s were being refused a license.

The Valuation Office accepted the findings and reduced the Rateable Value to zero producing a saving of £59,000 over a 3 year period.

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