Sloane Street Success

Background 

DWD are instructed to manage and appeal Swatch Groups business rates assessments across all of their brands including Omega, Swatch, Breguet, Blanc Pain etc. 

Challenge

Swatch occupy shop units across the UK, including premises in very high value locations such as Old Bond Street, New Bond Street, Regent Street and Sloane Street.  Swatch needed a rating agent that could not only de-mystify the business rates processes and offer the best advice, but had both national coverage and expertise in high value locations.

DWD Service

DWD act for the Kering Group (Balenciaga, Gucci, Saint Laurent, Bottega Veneta, Alexander McQueen etc) and the LVMH Group (Christian Dior, Givenchy, Rimowa, Louis Vuitton, Pucci, Loewe etc).  Consequently, DWD has more experience of premium retail business rates work than any other practice.  

DWD also acts for high street retailers across the country including Inditex (Zara, Pull & Bear, Massimo Dutti etc.), Mango, Uniqlo, Apple, Molton Brown, Neals Yard Remedies, Trespass, Mountain Warehouse and many more, demonstrating that our clients have confidence that our national coverage has genuine depth. 

The tone on the west side of Sloane Street is supported by the rents agreed close to the 1April 2015 AVD.  However, Edward Wiltshire, a member of the DWD Business Rates Team, inspected and conducted a full measured survey the Omega Sloane Street shop.  On appeal, he was able to demonstrate to the VO errors in their survey data and their method of valuation.

Outcome

Following negotiations on the facts of the valuation and the basis adopted the rateable value was reduced with effect from 1 April 2017, saving our client c.£130,000 in liability.