George Osborne opens Bristol enterprise zone

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The official opening of a multimillion-pound “enterprise zone” in Bristol is to take place later. Firms in the zone, located near Temple Meads railway station, will have reduced business rates and simplified planning rules. Bristol is one of four cities chosen by the government in June 2011 to try to boost economic growth. But critics believe the zone will not create additional jobs, with super-fast broadband the only benefit to firms. The leader of Liberal Democrat-run Bristol City Council, Barbara… more »

Scottish businesses benefit from £420m rate relief

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A business rates relief scheme has paid out around £420m to Scottish firms since it was introduced four years ago. The Scottish Government published a regional breakdown of the figures across the country which shows that firms in Glasgow accounted for the largest share of the savings, taking £44.9m. CBI Scotland welcomed the announcement, but added it was “bewildering” that the SNP administration is planning to impose £131m in taxes on larger retailers and companies with empty premises. Assistant director… more »

Bristol commercial property gets a boost

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Have you considered adding to your portfolio by becoming the owner of a commercial property in Bristol? It could be a profitable move, as a new study by Colliers International has found that take-up of office space in the city increased by 44 per cent in the first three months of 2012 when compared with the previous quarter. This is despite Knight Frank’s Darren Yates recently saying that property owners may have to offer incentives to draw in cautious tenants.… more »

Telford offer discounted business rate scheme

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Firms could get business rate discounts of up to £55,000 a year under plans to lure more companies to Telford. Telford & Wrekin Council is proposing a raft of incentives for new businesses following the opening of the new Jaguar Land Rover i54 plant. Officials say that the borough is ideally placed to benefit from the new plant, which is being constructed just off the M54 motorway. The i54 plant will create 750 jobs directly and a further 2,200 in its supply chain. In… more »

2012 set to be a big year for London office space

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2012 is set to be a momentous year for London as the Queen’s Diamond Jubilee and the Olympic Games put the capital under the world’s gaze. With such widespread attention comes huge pressure as organisers hope that both events pass without a hitch and leave people with a positive impression of the UK and its capital city. So a huge year indeed and, even before a flag has been waved or a medal won, demand for businesses to set up… more »

Business rate relief DENIED for children’s charity

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COUNCIL bosses have defended their decision to refuse an application for business rate relief that would have saved a children’s charity thousands of pounds every year. Shooting Star CHASE moved into new fundraising offices in Weybridge Road, Addlestone, in February as a base to generate cash to fund the work carried out at Shooting Star House in Hampton and Christopher’s hospice in Guildford. The charity applied to Runnymede Borough Council for discretionary business rate relief which, if granted, would have… more »

UK commercial property values continue to fall

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U.K. commercial real estate values fell for the fifth straight month in March as the country’s economic woes crimped returns, Investment Property Databank Ltd. said. The average value of stores, offices and warehouses declined 0.3 percent last month from February, IPD said in a statement today. Retail properties led the drop, declining 0.5 percent. Total return, which combines the change in property values and rental income, rose 0.2 percent from a month ago. The U.K. economy probably just avoided a… more »

Luton firms in business rate crisis

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BUSINESS growth in Luton and Dunstable is being stifled by high rates bills. That’s the warning from a national advice service that says 608 firms in Luton are waiting on the result of appeals. This, says CVS, could mean that £3,439,022 of savings could be due back to local firms. Mark Rigby, chief executive of CVS, said: “There are 608 rate appeals sat with the Valuation Office Agency from businesses in Luton. “This could mean that £3,439,022 of savings is… more »

UK Government opens 24 business rate exempt ‘Enterprise Zones’

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Businesses based at a former Naval base can now benefit from low business rates in an attempt to kick start regeneration, ministers said yesterday. The Government declared Britain’s 24 ‘enterprise zones’ to be open for Business, meaning up to 100 per cent rate discounts for new businesses for five years. They include the HMS Daedalus site in Gosport, where Hampshire leaders hope to see 650 new jobs created with tax breaks totalling £2.7m. Planning rules will also be relaxed. A new order is being… more »

UK commercial property sees increased activity in March

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The latest research performed by Markit for Savill’s, the results of which were published on Friday April 13th, suggests that activity on the UK commercial property market increased last month. In fact, March 2012 was the busiest period for commercial property developers in the past 2 years. 25% of respondents in the Markit research said they have seen improved activity on the property market, while only 12% reported a fall. Commenting on the findings, Michael Pillow of Savill’s, said: “Encouragingly,… more »