Although the assessor had proposed a Net Annual Value/Rateable Value (NAV/RV) of £189,900 for the airport at the 2005 Rating Revaluation, and this was the figure inherited by Highlands and Islands Airports at its takeover of the airport in December 2007, the assessor has accepted J&E Shepherd’s argument that the NAV/RV should be amended to £125,000, backdated to December 2007.
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Alan McKenna, FRICS, Dip Rating, head of rating at J&E Shepherd, said: "The valuation of Dundee Airport prior to the current revaluation was £155,400 NAV/RV, so the adjustment achieved even falls below the figure which applied at the 2000 Revaluation."
This revaluation, together with a series of other adjustments argued for by J&E Shepherd and accepted by the assessor, has resulted in a total saving of more than £73,000 for Highlands and Islands Airport Ltd.
Graeme Bell, Dundee Airport Manager said: "This figure represents a significant saving for Dundee Airport and we are pleased that the assessor has accepted J&E Shepherd's arguments to deliver this outcome."
Mr McKenna added: "Certainly, any occupier who has moved premises within the last six months should lodge an appeal now since failure to do so will deprive them of their right to challenge the valuation."
Highlands and Islands Airports Limited (HIAL) is a company wholly owned by Scottish Ministers and sponsored by the Scottish Government. It operates Dundee Airport via a wholly owned subsidiary company, Dundee Airport Limited.
(GK/JM)
