Bar Pina – Saved £14,250 a 41% rates reduction
After discovering the bar/restaurant Bar Pina in Sheffield was added as a New List entry into the 2017 Business Rates Rating list we contacted the owner Joe Cribley and he agreed to us investigating on a no win no fee basis.
When Joe signed the original lease on the Harvest Lane building, the property’s valuation stood at around £5,000, based on its previous use as a workshop.
Following the building’s change of use to a bar, and a visit from the VOA where Joe says they asked for ‘some fairly rudimentary figures’ about turnover, the valuation was increased to a whopping £34,250.
- Old rateable value: £34,250
- New rateable value: £20,000
- Rateable value saving: £14,250
- Percentage saving: 41%
- Refund: £6,500 in 2019/2020
Joe Cribley, co-owner Bar Pina.
“Fortunately following our Business Rates increase, I was contacted by Jonathan Weastell, a Business Rates Consultant, who I instructed to challenge the valuation.
After a lengthy process Jonathan was ultimately successful in his challenge and the new rateable value was significantly lower.’’
Jonathan Weastell, PSG
“I was delighted to have successfully negotiated a saving of over 40% at the Kelham Island bar, reducing the properties rateable value from £34,250 to £20,000 in October 2019.
This revised valuation was based on the analysis of the profit and loss accounts, knowledge of the area and level of local competition.
Joe had provided everything I needed at the outset which allowed me to work on the case and allowed him to concentrate on making his new venture a success.
It’s a significant saving at an important time for their new business.”
