1. SWEETSAVINGS
TheoriginalPatisserieValeriefirstopeneditsdoorsin1926,inFrithStreet,whenBelgian
born Madam Valerie decided to introduce a taste of the continent to the English. The
national Vienneoisserie company is sister to Drucker’s Vienna Patisserie and Baker and
Spice, based in the south.
CVS was instructed to see if business rates savings could be made across a number of
their retail bakeries.
RESULTS
The process is very much at the beginning for Patisserie
Valerie. 26 sites are currently being appealed and CVS
have already saved them over £521,000.
SURVEYORCOMMENTS
“Assessing retail food stores is often tricky as there are
a number of factors that the Valuation Office doesn’t
take into account such as layout, interior changes to
accommodate kitchen equipment such as ovens and
any issues with the local area that can affect footfall such
as major road-works or public transport disruptions.
Along with a team of surveyors with local knowledge
specific to each site, we were able to lodge a number
of very strong appeals for Patisserie Valerie. The early
results are encouraging and I am sure we will see more
savings for our client.”
JoeThornborrow,RatingConsultant,CVS
Savingsof£521,425
Savingsof£521,425
“Businessrateshavealwaysrepresentedasignificantoverheadtousasagrowing
company. With plans for a further 18 sites in 2012, overvaluations, if only by a
small amount, have adverse implications on store contributions and cash flow.
We are pleased with the savings received to date and are confident that CVS are
compiling the strongest cases to appeal to theValuation Office on our remaining
sites.”
ANDY SINGLETON,
HEAD OF REAL ESTATE, PATISSERIE VALERIE