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Rates Relief for businesses on George Street in Altrincham
1:53pm Tuesday 8th January 2013 in News
BUSINESSES in Altrincham have received a new year boost after securing a reduction in business rates .
A number of properties on George Street in Altrincham will see a cut in the business rates that they pay with many reductions being backdated to April 1, 2010.
The current rating list is based on rental values at April 1, 2008 and physical condition on April 1 2010.
Since the full impact of the recession at the end of 2008, rental values have fallen considerably yet business rates have remained based on higher pre-recession rental levels.
David Wightman, centre manager of the Stamford Quarter, where a large number of retail units are located in Altrincham said: “We are thrilled to have been successful in our appeal to reduce business rates for a large number of units on George Street”
“We have worked with Ratings Advisor WHR, and not only will this make a significant saving to our existing retailers but it will also make Altrincham a much more attractive investment for new businesses to the town.”
Mike Knowles from Savills and Gary Crompton from Reid Rose Gregory, both letting agents for the Stamford Quarter, said: “We have had a number of new retailers interested in coming to Altrincham, who have been put off by the high business rates which failed to reflect the current economic climate.
"This successful appeal means some units will see nearly a 50 per cent reduction, which will be much more attractive to potential occupiers.”
Martin Randall, owner of Randall’s jewellery, an independent retailer at the Stamford Quarter, is one of the retailers in Altrincham who will see a reduction in his business rate next year.
He said “The reduction in business rates is great news for our store and will enable us to take on more staff.
“We have been working hard with the landlord, who has been very supportive and now that the rates have been brought into line with the current trading situation, this allows us to secure our future in Altrincham. I’m sure this will encourage other independent retailers to look at Altrincham for their business.”