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Hoteliers in the Midlands face huge rate rises

21 February 2005 by
Hoteliers in the Midlands face huge rate rises

Midland hotels are facing bigger rate rises than the rest of the UK, according to property agents Christie & Co.

An analysis of new rateable values at 40 three- to four-star Midlands hotels found more than half were facing hikes of between 30% and 140%, compared with 2000 levels.

This is way above the 17.4% average rateable value increase for UK commercial property in the 2005 list.

Christie & Co director Andrew McArthur believes the Valuation Office Agency is being bullish with its expectations for the area's performance.

"It may have decided the properties were undervalued in the 2000 list, but I suspect it is being overly optimistic this time," he said.

McArthur urged operators to check their new rating (www.voa.gov.uk). "Get professional advice and an immediate health-check to ascertain if it's worth going to appeal," he added.

by Chris Druce

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