First 2012 Rates Bills Arrive

Our Treasury Department have just passed the first rates bills of 2012 to the Rating Department for verification, it doesn't seem 12 months ago that the last round arrived. Republic of Ireland bills have been received with England and Wales expected to arrive in the next 6 - 8 weeks and Scotland and Northern Ireland some time after that. It always amazes us how the bills can be calculated incorrectly on so many occasaions and we therefore provide a free rates bill auditing service to our clients to ensure you are being charged correctly. This also allows us to check that your premises are valued correctly and ensure we have any mistakes rectified and backdated where applicable.

If you would like to avail of our audit service then please send your bills to me fshorey@dohertybaines.com and if you have any queries on any aspect of your rates then please don't hesitate to get in touch.

Fiona Shorey - fshorey@dohertybaines.com / 020 7355 3033

Good start to year for Rreef

Unit 1 B Dukes Road Industrial Estate, Dukes Road, Park Royal W3 0SL has been prelet to Screwfix on a 10 year lease. The unit is 7,503 sq ft.

For further information, contact Michael Haines.

Response to budget announcement on rates

The Chancellor has announced that he is extending the business rates holiday from October this year to April 2013. The rates holiday first announced in the 2010 budget allows businesses with a rateable value of up to £6,000 a year will be exempt from paying any rates at all for 12 months, with partial relief for properties rated up to £12,000.

The Chancellor says that this will mean 500,000 rate payers or a third of all shops will have no business rates liability until April 2013.

Fiona Shorey, Head of Rating at dohertybaines said "Business rates are the third biggest cost for small businesses, after salaries and rents and while we are delighted to hear the the Chancellor is taking some steps to help small businesses he has made no announcement about any real help for medium sized firms who are really feeling the pinch during the current economic climate".

The Chancellor also announced that he would be offering businesses the option to defer 60% of the increase in their rates bill next year. Fiona Shorey commented that it would be more helpful to revisit how the increases in rates are set. "A spike in inflation in September has led to a 5.6% increase in business rates across the board. A deferment of this increase is little more than covering over the cracks to the system. When this deferment was offered to businesses in 2008 many didn't take up the option because it was seen to involve too much bureaucracy with little benefit".

For more information on your rates bill contact our business rates department.

Screwfix hook Unit 4 Coomber Way, Croydon

Screwfix have recently taken a ten year lease with a break after 5 years at Unit 4 Coomber Way, Croydon.

The scheme, a terrace of 4 units, is now fully let and includes Rexel Senate, Dash Finishers and Balmoral Group on the estate.

The unit was let at a rent of £7 per sq ft.

Please contact Paul Londra of dohertybaines for further information.

Lettings for Blackstone

Unit 5 Colonial Drive, Bollo Lane, W4 has been let to The Original Door Company on a 3 year lease. The property comprises a warehouse/industrial unit of 10,507 sq ft.

For further information, please contact Michael Haines.

Freehold Sales for Hillview

At Genesis Business Park, Park Royal, NW10 Unit 15 (2,115 sq ft) has been sold to Ambros. The unit was a brand new two storey business unit.

For further information, please contact Michael Haines.

SEGRO Lettings across the A40 Portfolio

In Greenford, UB6, Unit 11 Fairway Drive (8,858 sq ft) has been let to Cooper Associates Ltd on a 5 year lease and at Metropolitan Park Unit 45 (3,051 sq ft) has recently completed to Saffron & Saffron Interiors Ltd for a term of 5 years.

At Victoria Industrial Estate, Park Royal, W3 Unit 7 (5,371 sq ft) has been let to VMI.TV Ltd for a term of 10 years.

For further information, please contact Michael Haines.

Wolseley tap into Six Bridges

Plumb centre have taken a 10 year lease with a break after 5 years at Unit C3 Six Bridges Trading Estate, London SE1. The unit was approximately 5,234 sq ft and was fully refurbished prior to marketing. The unit is just off the Old Kent Road and has good road links to the West End and City.

Also recently completed are two north London lettings:

Unit 8 Mowlem Trading Estate, London N17 let to RA Trading on a 3 year lease. This unit was approximately 7,433 sq ft. The last remaining unit on the estate was Unit 15 and this is now under offer. Again both units were refurbished by the landlord prior to marketing.

Units 7, 8 and 9 Crusader Industrial Estate, London, N4 were let as a combinedd unit, to Europride Ltd. The units had an extensive mezzanine across all three units and was let on a five year lease with a break after 3 years.

The last remaining unit on the Crusader Estate is also under offer.

If you require any further details on the above, please contact Paul Londra at dohertybaines.

Only 1 unit left for Canmoor at Vision, W3

Following the successful letting of Units 2 & 4 Vision, only Unit 15 is now available.

Unit 15 is a brand new HQ warehouse of 27,429 sq ft with high quality offices and demised yard and car parking.

Unit 2 (3,835 sq ft) was let to Louise Bradley for a term of 10 years.

Unit 4 (4,646 sq ft) was let to Chevalier Technologies for a term of 10 years.

For further information, please contact Michael Haines.

More Letting for SEGRO across the A40 Portfolio

At Acton Park, W3 Unit 33 (8,671 sq ft) has been let to Allan Reeder for a term of 10 years.

Units 10 & 14 Victoria Industrial Estate, W3 have also been let. Unit 10 (7,317 sq ft) has been let to The Soundhouse for a term of 15 years and Unit 14 (3,164 sq ft) has been let to Visual Impact for a term of 5 years.

Medco Health Solutions have taken 27 Greenford Park, UB6 (3,995 sq ft) for a term of 6 years.

For further information, please contact Michael Haines.