This oil company is one of the global leaders in the Engineering & Construction and Drilling businesses, with a strong bias towards oil and gas-related activities in remote areas and deep-waters. It excels in the provisional of engineering, procurement, project management and construction services, with distinctive skills and capabilities in the design and execution of large-scale offshore and onshore projects.
Following its move to Surrey in 2012, we were instructed to advise on the rating assessment of its newly acquired head offices. The premises were fully refurbished and entered into the Rating List from the date of completion at a Rateable Valu eof £1,830,000.
We entered an appeal against the rateable value and following extensive research, we put together a case for a substantial reduction in the valuation. Having received no substantive response from the Valuation Officer, we requested a hearing by the Tribunal. At the eleventh hour, we received an approach from the Valuation Office Agency, which resulted in settlement of the appeal with a reduction in RV to £1,550,000, generating savings over the period to 31 March 2017 of £572,000.