GL Hearn secures significant savings for Fosse Park ratepayers

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29 November 2013

GL Hearn has successfully pursued appeals to the Upper Tribunal on behalf of its clients, which have resulted in rates refunds of more than £500,000 (dating back to 2008) to retailers at Fosse Park in Leicester.

In a decision published this week, the Upper Tribunal (Lands Chamber) has awarded ratepayers at Fosse Park reduced rating assessments following the opening of the Highcross Shopping Centre in Leicester in 2008. The seven ratepayers involved include leading high street names such as BHS, New Look and Next. Between them the seven will receive rates refunds of more than £500,000 dating back to 2008.

GL Hearn presented evidence at the Upper Tribunal on behalf of the retailers. Len Newton, Business Rates Director at GL Hearn who gave evidence, said:

“The Tribunal has accepted the trade impact evidence that we presented and has also had regard to the Leicester City Retail Capacity study carried out in 2007 which looked at the projected impact of Highcross on Fosse Park.

“The Tribunal’s decision supports our view that a 10% allowance should be applied. The appeals were lodged in 2009 and were initially rejected by the first-tier Tribunal but we considered the evidence supported our view and advised clients to appeal to the Upper Tribunal, so we are pleased to see that the Upper Tribunal has agreed with us.”

The Tribunal’s decision will take effect once the question of costs has been determined. The ratepayers will be seeking to recover costs from the Valuation Office Agency.

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The Tribunal has accepted the trade impact evidence that we presented and has also had regard to the Leicester City Retail Capacity study carried out in 2007 which looked at the projected impact of Highcross on Fosse Park
Len Newton
Business Rates Director

GL Hearn

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