The Practice has substantial experience and expertise in this specialist area of valuation having acted for the University of York and Newcastle together with a significant number of other educational establishments in the 1990, 1995, 2000 & 2005 lists, and now going forward into the 2010 list. There has been a significant increase in rateable values within the higher education sector between the 2005 and 2010 lists.
The main reason for this is that the majority of academic buildings are valued by reference to build cost (contractors test). Over the last five years the key raw materials including steel and concrete have risen significantly in cost.
We are of the opinion that the strategy agreed with the University at the commencement of the 2005 list has been very successful and as a consequence the University has minimised its rates liability both by the judicious appeal of compiled list assessments, proactive appeal of assessments to reflect material changes in circumstance particularly in light of the construction works and the use of reliefs and exemptions. Significant savings were achieved and all opportunities for temporary reductions and reliefs were exploited.
Sanderson Weatherall also carried out a rates audit for the University to ensure that the University’s internal accounts department are proficient.