Tuesday, 15 August 2017

Small Business Rate Relief **Update 2017**

Small business rates relief explained (Updated for 2017)

It is not common knowledge among small businesses that the local council may be able to offer you a discount on your rates, if your business or the property you occupy fit certain criteria.

We think the following information will help explain this for you:

Some properties are eligible for discounts on their business rates. This is called ‘business rates relief’.
Your local council will automatically apply some reliefs. Contact your local council if you’re not getting the discounts you think you’re entitled to.
You can get small business rate relief if:
  • you only use one property (in some circumstances, more than 1)
  • your property’s rateable value is less than £15,000


You won’t pay business rates on a property with a rateable value of £12,000 or less.
For properties with a rateable value of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.


When you get a second property, you’ll keep getting any existing relief on your main property for 12 months.
You can still get small business rate relief on your main property after this if both the following apply:
  • none of your other properties have a rateable value above £2,899
  • the total rateable value of all your properties is less than £20,000


If your property in England has a rateable value below £51,000, your bill will be calculated using the small business multiplier, which is lower than the standard one. This is the case even if you don’t get small business rate relief.
The small business multiplier is 46.6p and the standard multiplier is 47.9p from 1 April 2017 to 31 March 2018.

The multiplier shows the percentage (pence in the pound) of the rateable value that you pay in business rates. A list of currentmultipliers is on the Valuation Office Agency (VOA) website.

We hope you find this useful and if you have any other commercial property query, please do not hesitate in contacting us.

Belvoir Commercial
01264 366611

Tuesday, 4 July 2017

Does your Commercial Property meet the new Energy minimum?

Minimum Energy Standards

The Energy Act 2011 contains a number of provisions which will affect owners and occupiers of property. Probably most significant are the proposed minimum energy standards.

From April 2018, the proposed legislative changes would make it unlawful to let commercial properties with an EPC Rating of F or G (i.e. the lowest 2 grades of energy efficiency). This could have very significant implications for landlords, and for occupiers who wish to assign or sublet space, including: Š Marketability of some properties would become impossible unless they were upgraded to meet the minimum standards. It is estimated that approximately 20% of non-domestic properties could be in the F & G rating brackets. Š

Further clarification on the transactional trigger for minimum energy standards is awaited; however the new minimum standards could apply to all lettings and re-lettings, including sub-lettings & assignments. Š Valuations of such properties could be affected if their marketability is diminished. Š Rent reviews for properties in this situation could also be affected. Š Implications for dilapidations assessments would also exist. Given this risk to property owners and occupiers it is clear that a full understanding of the energy efficiency of your property assets should be attained.

Thereafter owners and occupiers will need to assess the costs and viability of undertaking retrofits or refurbishments, and possibly bringing forward properties for marketing prior to 2018 or re-gearing leases.

Property owners and occupiers should also consider how their property values may be affected. Linking minimum energy standards to the “Green Deal” The Government believes that the “Green Deal” may provide a financial solution to support energy efficiency refurbishment and retro-fit projects. Landlords and sub-letting occupiers will need to achieve an EPC “E” rating or have implemented the maximum package of works allowable under the Green Deal (even if they fall short of the “E” rating required). Exemptions may be made for certain types of properties via secondary legislation. Trading Standards Officers will enforce the rules for commercial properties; the precise level of fines will also be part of the secondary legislation.

If you are unsure of the energy efficiency rating of your property, or you know already that your property does not hit the 'E' minimum, contact us for a quote for an assessment tailored to your property.

Belvoir Commercial have been selling and letting commercial property in the Andover area since 2013 and have a large database of registered buyers, investors and tenants. Please contact us if you need modern and effective commercial property marketing. We always need more Retail, Industrial, Offices, Development Potential Property and Land.

Please call our team on 01264 366611

Thursday, 25 May 2017

Off Market Opportunity to aquire the Freehold of this Character Property

Belvoir are delighted to offer an 'Off Market' Freehold of this beautiful character 3 storey High Street property (plus sizeable basement storage), located adjacent to one of the main entrances to Andover’s shopping centre. The property is set in a corner plot with dual aspect frontage in a recently updated and remodelled area of the high street near St Mary’s Church.
Corner Frontage

Ground Floor

Presently laid out as retail over the first two floors and office space to the second floor but could be re arranged to allow for conversion of the upper floors into 2 x 2 bed residential apartments (Planning for this conversion was granted but has now lapsed). The property would also suit a business owner looking to promote their business in a prime position with the possibility of converting the upper floors into accommodation for the owners or staff.

Ground Floor: 759 sq ft
First Floor: 642 sq ft
Second Floor: 518 sq ft
Basement: 480 sq ft

Total: 2399 sq ft

The property has many original features including exposed beams, brickwork, original floor boards, inglenook fireplace etc.

Retail Tenant Position: Due to the success of the business, the tenant will either move to larger premises or potentially keep this outlet as well as a new location. Therefore the property can be sold either with tenant in situ or with vacant possession.

For internal viewings of the property, please contact the office. In the interests of the tenant, please do not visit the property un arranged with Belvoir.

Guide Price: £495,000 

First Floor

Picturesque market town located in the affluent Test Valley area of Hampshire 
£2.9m has been invested to extend and refurbish the bus station 
Further improvements underway to the town and community as part of the Andover Vision 20 year plan 
Strategic location adjacent to A303 and within easy reach of the M3 & M4 
Various car parks close by including a multi storey 
Andover has a number of core brands on the High Street that include Top Shop, Ernest Jones, Costa Coffee, Poundland, Boots, Argos, TK Maxx etc etc. 
Strong annual footfall or circa 7 million 
Catchment ; there is an affluent shopper catchment of approx 150,000 people drawing from the surrounding wealthy villages including Stockbridge and The Wallops 
Growing population ; there is substantial housing expansion underway with an additional 8250 dwellings to be built by 2029 with 6516 of those earmarked for Andover. There are recent communications and existing commitments at Picket Twenty & Augusta Park. 
Low unemployment; the town benefits from very low unemployment compared to the national average. 
Loyal customers ; people living in the core catchment area visit the town centre more than 70 times a year (rct 2010)

If you are interested in an internal viewing or more information, please contact us on 01264 366611

Thursday, 26 November 2015

Development Plot Available - 0.64 acres

We have been instructed to bring to market a substantial plot of land on behalf of our client who has recently acquired the site. The plot spans between Western Rd & Osborne Rd and has access from both roads. The plot is close to Andover town centre.

The site presently has a substantial Victorian building on it (formally a working man's club) but provisional drawings have been created to demonstrate the plot would allow at least 13 dwellings on it STPP.

We have calculated that the exit value of these houses would be circa £3 - £3.4m subject to quality and planning permission etc.

It has been suggested that the 13 properties would be made up as follows:

3 x 2 bed houses

7 x 3 bed houses

3 x 4 bed houses (from the existing building on site)

The guide price for the site is £1m and we would like to hear from anyone that would interested in purchasing the site. Please contact us at your earliest convenience if you would like to discuss this further.

Mixed Use Property For Sale - Andover High Street

Belvoir Commercial have been instructed to sell another substantial residential & commercial mix property on the High Street here in Andover. The property is in the closing stages of the upper floors being converted into 4 residential flats.

The freehold sale of the property consists of as follows:

2 x 2 Bedroom Flats
2 x 1 Bedroom Flats

1085 sq ft Commercial Retail unit

The location of the property sits in what is considered the 'sweet spot' of the high street and is presently let to the premium greetings card retailer 'House of Cards' on a 15 year lease. The property shares its location with big brands such as hsbc, Lloyds, tsb, Santander, Boots, Dorothy Perkins, Costa & Burton etc.

The entrance to the flats on the first and second floor are accessed via a communal residential side access from the side of the building.

As previously mentioned, the flats are presently being finished so will be presented 'as new' when completed and are ideal for letting on a assured shorthold tenancy agreement which this office can assist with.

Rental Valuation:
Commercial: Presently paying £28,500k pa + vat
1 beds: £625pcm x 2
2 beds: £695pcm x 2

Total annual residential lettings income: £31680
Total Annual Income: £60180pa
Yield: Approx 6.69%

Added Value: 1 Years free lettings management of the property post purchase

If you would be interested in this property, please contact this office for more information

Monday, 2 November 2015

Established tenant needs 6000 sq ft

We have registered a commercial applicant that is looking for circa 6000 sq ft of office space within commutable distance from Andover.

Example Property Required

If you have, or know someone that does, a property that might suit the applicant, please get in touch as soon as possible.

Applicant Details:
• Established Business
• Circa 50 Staff
• Will either purchase or lease a suitable property
• Award winning business (120 industry awards to date)
• Timescale: ASAP
• Requirement: 6000 - 7000 sq ft
• Type: Offices

We look forward to hearing from you.


01264 366611

Wednesday, 28 October 2015

New measures will make it easier to turn underused office buildings into new homes

Housing and Planning Minister Brandon Lewis  announced earlier this month new measures that will make it easier to turn underused office buildings into new homes.
The move will provide thousands of new homes, and make the best use of existing buildings including some that are underused and neglected – while at the same time protecting the green belt.
Brandon Lewis said:
We’re determined that, both in Whitehall and in town halls, everything is done to get the homes we need built.
Today’s measures will mean we can tap into the potential of underused buildings to offer new homes for first-time buyers and families long into the future, breathing new life into neighbourhoods and at the same time protecting our precious green belt.

First introduced in 2013, temporary permitted development rights have enabled offices to be converted to new homes without having to apply for planning permission. It has meant that between April 2014 and June this year, almost 4,000 conversions were given the go-ahead.
However, these rights were set to expire on 30 May 2016 – potentially introducing a raft of unnecessary red tape and bureaucracy that would have hampered the conversion of underused office buildings and slowed down the delivery of thousands of new homes.
Today, Mr Lewis announced that these permitted development rights will now be made permanent. In addition those who already have permission will have 3 years in which to complete the change of use – ending potential uncertainty for developers and enabling the development of much needed homes.
To further support the delivery of new homes, the rights will in future allow the demolition of office buildings and new building for residential use.
In addition, new permitted development rights will enable the change of use of light industrial buildings and launderettes to new homes.

Further information

Those areas that are currently exempt from the office to residential permitted development rights will have until May 2019 to make an Article 4 direction if they wish to continue determining planning applications for the change of use.
There are areas in 17 local authorities in England consisting of individual buildings, roads or zones that are currently exempt from the rights, including:
  • The City of London
  • The London Central Activities Zone, which covers parts of the boroughs of Camden, Islington, Hackney, Tower Hamlets, Southwark, Lambeth, Wandsworth, Westminster, Newham, and Kensington and Chelsea
  • Areas in the borough councils of Stevenage, and Ashford (Kent)
  • Areas in the district councils of Sevenoaks and East Hampshire
  • Manchester City Centre
These exemptions will remain in place until May 2019, providing time for local authorities to consider making an Article 4 direction to remove the rights and require a planning application for any proposed change of use.
Those who already have prior approval or who secure permission will have 3 years in which to complete the change of use.
The rights to allow for demolition of offices and new build as residential use will be subject to limitations and prior approval by the local planning authority. Further details will be provided in due course.
The new permitted development rights for the change of use of light industrial buildings and launderettes to residential use will be subject to prior approval by the local planning authority. Further details will be provided in due course.

If you have a commercial property that you believe might be suitable for conversion, please contact Greg Greatbatch of Belvoir Commercial 01264 366611

Belvoir Commercial have successfully SOLD various types of commercial property to developers for the purposes of the above. Whether you have offices, floors above retail, pubs, clubs, land or unused buildings, give Belvoir a call to see we can do for you.