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Old 03-02-2010, 18:35   #60
MargaretR
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Re: Parking at side of Market Hall

Business rates on empty properties is charged at 100% after 6 months.

I remember when that came into force and we witnessed many fires in empty commercial premises - so much so that the fire increase was markedly notable. (Premises without roofs are not taxable)

The owners of the Arndale centre are at the mercy of the council who set the level of business rates.There will come a time when the rents they receive from actively let properties is cancelled out by the business rates paid out on the empty units.

When that happens the Arndale will be making a loss - will close - and will need to be demolished by the owners in order to cut their losses.
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