Having trouble viewing this email? Click here to view it in your browser
Cooke & Arkwright
News 2018 Issue 5

Proposals to tax vacant land in Wales explored

The Welsh Government position is that Wales needs more housing. It is exploring whether a new tax to increase the cost of holding vacant land could encourage the building of new homes and increase commercial development.

Elizabeth Hill, Property Valuation Director said, "It will be very difficult for Welsh Government's surveyors to value raw land where technical ...

Read more

Winds of change blowing in with leasehold reforms

The Law Commission has published proposals to reform the leasehold enfranchisement process to make it easier and cheaper for leaseholders in England and Wales to purchase the freehold of their house or flat.

Rod Perons, Land Agency Director said, “Away from the travails of Brexit, the Government is seeking to change the law on leasehold reform. Potentially, this could lead to a major change in the regime and valuations...

Read more

Wardell Armstrong in Cardiff expansion due to increased demand

Engineering, environmental and mining consultancy, Wardell Armstrong, has relocated to larger offices in Cardiff to accommodate increased demand for its services in Wales and the South West of England.

James Henton, MD of landlord Deri Investments said, "We have had the pleasure to work with Wardell Armstrong historically. I must convey our thanks to Cooke & Arkwright for their Herculean efforts ...

Read more

Welsh Government responds to consultation on non-domestic rates avoidance

The Welsh Government has issued a statement setting out its intentions following the Consultation on Tackling Fraud and Avoidance of Non-Domestic Rates in Wales.

Mark Drakeford, Cabinet Secretary for Finance issued a written statement on 16th October 2018, saying that evidence suggested between £10m and £20m of non-domestic rates revenue is lost every...

Read more

Portuguese bakery, Nata & Co acquires fourth site in Cardiff

Portuguese bakery Nata & Co, famous for its Portuguese style ‘pastel de nata’ custard tarts, has opened its fourth site in Cardiff at Capitol Shopping Centre.

The latest addition to the growing food scene at Capitol Shopping Centre, Nata & Co joins Pret A Manger and Atma vegetarian and vegan café, adding to the expanding ‘grab-and-go’ food ...

Read more

Landlords beware, broken chain can impact dilapidations claim

Modern commercial leases will contain repairing, reinstatement and redecoration clauses which place strict obligations on the tenant during and at the end of the agreed lease term.

However, on a recent terminal dilapidations instruction we found that the former tenant, a bank, was not liable to remove its old serving counters...

Read more

Surveyors channel energy for charities

Surveyors at Cooke & Arkwright were very active in September, with teams taking part in cycling, rowing and mud-run events to raise money for our chosen charity Velindre, as well as Keep Wales Tidy and Wooden Spoon.

Read more
budget puts wales on different rates footing and fails to address fundamental problems

In his Autumn Budget statement, Chancellor Philip Hammond announced £900m in business rates relief for high street retail properties in England with a rateable value below £51,000, for two years from April 2019. This could benefit up to 90% of retail properties, which will see their RV cut by a third, subject to State Aid limits.

Andrew West, Rating Director comments, "I doubt very much that a similar relief will be applied by the Welsh Government as this would disproportionately impact Welsh rate revenue following the devolution of business rates to Wales from April 2015. This will leave high street retail businesses in Wales with an RV of between £6,000 and £51,000 paying far more in business rates than their counterparts in England.

"Moreover, the announcement on business rates relief for England does not help larger retailers struggling against online competition.  Their departure from the high street reduces footfall which in turn impacts the smaller retailers. We would have liked the Chancellor to have extended the relief to larger retailers, thereby helping increase occupancy levels and the vitality of town centres.

"The budget produced nothing meaningful or radical other than more relief measures. We already have so many reliefs and exemptions that the system has become overcomplex. Systemic reform is overdue, but the opportunity has been kicked into the long grass."

Wests surround Hitman Hatton

Rating Director Andrew West, left, and his father John, right, met up with Ricky 'Hitman' Hatton, centre, at an evening to celebrate Hatton's career at the Parkway Hotel, Cwmbran in October.

Ricky Hatton is the former three-times Light Welterweight and Welterweight World Champion, now a promoter and trainer. John West turned pro at 16 and was British Army Welterweight Champion in 1949/50.

Cooke & Arkwright Sectors
Cooke & Arkwright Services
© Cooke & Arkwright. All rights reserved.
Cooke & Arkwright is a trading name of Cooke & Arkwright Ltd. Registered in England and Wales No 2618062. Cooke & Arkwright offer Retail, Office, Industrial, and Rural properties. Registered Office: 7/8 Windsor Place, Cardiff CF10 3SX. Cooke & Arkwright is regulated by the Royal Institution of Chartered Surveyors.
Designed by Optima.
You are already subscribed to receive our emails.
We will not sell, distribute or lease your personal information to third parties.
You are free to upgrade your preferences or opt out at any time by using the link below: