Reduce your Commercial Rates liability ! –
In 2008 the Government decided to reform the way business rates were charged as an incentive to bring empty commercial buildings back into use, which dramatically the amount of relief given against business rates on empty commercial and industrial buildings.
This reform was been introduced to encourage owners and occupiers of all commercial property to re-let, re-develop or sell unoccupied property, and it was thought that this reform would help increase the supply of premises available to let, which should then make the market more competitive, and as a knock-on effect drive down rents.
What has actually resulted (especially during the last 5 years of economic downturn) has been that many property owners have been left with empty properties, which nobody wants and which they can’t let for ‘love nor money’ and which the local authority is demanding full payment of non-domestic rates, which are far from cheap.
If you are a property owner in a position where you are unlikely to find a tenant for your property and that property is becoming a financial liability, then why not consider demolishing the buildings and losing the commercial rates burden as soon as possible?
Prepare your site for redevelopment and increase its value in the process ! –
If you are looking for somebody to buy your site for redevelopment, then potential purchasers / developers will always try to discount their offer for the purchase of a site because of the liability that remains on the site in the form of any existing buildings, which will need to be demolished first.
These potential purchasers often exaggerate the liability; the potential risks and costs involved with getting the site ready for redevelopment, and therefore they also exaggerate the amount of reduction in their offer price.
Increase the value of your property asset, and your bargaining position, by presenting a clear site, ready for re-development !
Liquidate the value of reclaimable assets trapped in old buildings and structures ! –
Old buildings can often contain valuable reclamation items such as roof slates and stonework; old stone flag floors; scrap metal, and other architectural salvage, and whilst the value of these items fluctuates with the market, some materials can often be worth more that you expect.
There is potential for the ‘trapped value’ of the building’s reclaimable elements to go a long way towards paying for the cost of demolition and site clearance… so it might not cost you as much as you think to clear away your old buildings !
Also from an ‘Environmentally friendly perspective’, we have the capacity to crush all the brickwork, blockwork, concrete, tarmac and other ‘hard’ materials which will arise from the demolition process and produce reusable aggregates which can then be used in the development process and by doing so increase to overall sustainability and ‘environmentally-friendly’ nature of the future development.
Remove the Health & Safety Risk associated with unoccupied sites ! –
Whilst ever your buildings and structures remain empty, then they present a Health & Safety risk, and as the owner of the building you may be liable for any harm, loss or damage that occurs on that site.
If the buildings are no longer there, then the risks are alleviated ! … “Simples !”
Reduce your Insurance Costs ! –
Buildings, structures and property is ordinarily covered through insurance, not only for loss and damage to the buildings and contents themselves, but also for Public Liability in case anybody should come to any harm whilst on the premises…invited, or otherwise !
And in these times where there are people around every corner looking to claim from you for their misfortune, then owning old dangerous buildings truly is a liability.
So again, if the buildings are no longer there, then the Insurance premium burden is reduced … “Simples !”
Are you still paying expensive standing charges for statutory utilities that you are no longer using ! –
Do you still have Gas, Water and Electricity connected to your buildings and structures? If so, you might not be using them BUT are you still paying expensive ‘Standing Charges’ ?
Quite often owners are unaware of the utility charges, which are dripping away in the background, and whilst on the face of it these may not be excessive in isolation; a few ‘quarters’ later and the cumulative costs can mount up !
Also in conjunction with Health & Safety risks and Insurance costs, there remains more risk of injury; fire; flooding, or other catastrophe in an empty property while the Gas, Water and Electric are still live.
Disconnect Gas, Water and Electric supplies in order to reduce risks
- Demolish your property and get rid of the commercial rates bill !
- Demolish your property and increase the redevelopment value of the site !
- Demolish your property and liquidate salvage value !
- Demolish your property and get rid of the Health & Safety Risk !
- Demolish your property and reduce Insurance costs !
- Demolish your property and get rid utility bills !