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Commercial Rates - Retail Versus Playschool

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  • 29-11-2011 4:13pm
    #1
    Pacing Mule
    Registered Users Posts: 5,059 ✭✭✭


    Hi guys,

    Would anyone be able to point me in the right direction as to where I could get a list of NAV rates for various business types (don't even know what a NAV rate is to be honest)

    We have taken over a premises that was previously being used as a creche. We have been told that the ratable valuation of the unit is based on square footage and business type. I have a copy of the last occupants rates revaluation and it breaks down the areas of the site and assigns them a NAV rate. The highest one is for playschool at €163.94 per sq metre, whereas the staff kitchen area is only €27.33

    Since we are changing usage to a combination of retail / leisure usage I am assuming the NAV would be different for the public areas currently desginated as being playschool. What I would like to know before questioning it with the valuations board is if the rates for retail usage would be lower than for playschools - I don't want it to backfire and end up with an increased one !

    Thanks in advance for any help.


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    #2
    neris
    Registered Users Posts: 20,055 ✭✭✭✭neris


    we took over an office and converted it to a creche and the rates were for the whole buiding and play area as one payment and a previous creche we had with a parking area was charged as one charge for the building, play area and carpark. I dont think the rates would be cheaper for retail as the government pay some subsidised pre schooling and i was always under the impression that rates were standard charges and not industry specific


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    #3
    Maradunny
    Closed Accounts Posts: 3 ✭Maradunny


    Hi there,
    The NAV means the rent payable from year to year or Net Annual Value assuming the occupier pays the rates, insurance etc.
    In order to obtain a revised valuation there must be a material change to the property which affects the NAV. It would appear that the change of use you mention falls in to this category. You are right to see what the difference in the rental levels are. However, you are only likely to get this through the services of a rateable valuation professional. The valuations mentioned refer to 1988 values i.e. the rental value of the proeprty in its current (new) use in 1988. Much of the rental levels will depend on your location, fit out, is it purpose built etc. If you want to PM me I can give you more details


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