The Rating Winter Briefing
2024 AVD: The Triple List Maintenance Conundrum
Why is the 2024 AVD different from all other AVDs? With 3 year revals, rating advisors must now be mindful of 3 Lists – the tail end of the 2017, the current one; and the forthcoming 2026 List, whose AVD falls on the 1 April 2024. How will the 2024 valuations fair when considering the proximity of the 3 Lists, and the outstanding challenges and appeals from the previous ones? And when do advisors challenge; and on which List? This programme seeks to assist practitioners navigate the 3 dimensional conundrum. If you are involved in rating work, this is an event you cannot afford to miss.
|18 January 2024||Herbert Smith Freehills LLP, London||£210||BOOK|
Note: All prices are to be paid in GBP and are subject to VAT at the prevailing rate
Already, we have seen work spikes brought about by check or challenges from the closing down of the 2017 List, which may have delayed the checks for the 2023 List. Appeals will be the next spike, and since the tone of the List responds to key Tribunal decisions, advisors may need to revisit assessments.
How do practitioners manage properties and clients; and what are their options?
The right time to challenge a client’s rating assessment may vary according to;
- What is happening in the market
- Re-evaluating properties as a result of Tribunal decisions and ongoing settlements
- What are the rules imposed in relation to the 3 lists
- Simon Green, Head of Business Rates, Gerald Eve; Senior Vice President IRRV
- Tim Johnson BSc (Hons) MRICS, Senior Director, CBRE; Immediate Past President, The Rating Surveyors' Association
- Julian Jennings, Partner, Gerald Eve
- Paul Philips, Director of Revaluation, Valuation Office Agency
- Helen Zammit-Willson MRICS Dip.Rating IRRV (Hons), Director - National Valuation Unit, Valuation Office Agency
- Bjorn Bowles MSc MRICS Dip.Rating, Partner - Business Rates, Knight Frank LLP
- Simon Griffin BSc (Hons) MRICS, Rating Director, Jones Lang LaSalle; President, The Rating Surveyors' Association
- Roger Cohen, Senior Counsel, Bryan Cave Leighton Paisner LLP
- Mandy Franklin MRICS Dip.Rating, Technical Advisor, Valuation Office Agency
- Richard Williamson, National Head of Rating, GL Hearn Limited; Vice President, The Rating Surveyors' Association
- Chris Sykes, Director Regional Valuation Units, Valuation Office Agency
- Lee Anderson BSc (Hons) IRRV (Hons), Director of Operations & Development, Valuation Tribunal Service
- Josh Myerson FRICS Dip.Rating IRRV (Hons), Partner and Head of Rating, Montagu Evans LLP; Previous Past President, The Rating Surveyors' Association
Welcome and Introduction from the Conference Chair
What is Happening in the Market?
Market View of the 3 Main Bulk Classes – Where are the Current Hot Spots; and the Impact of 2024 AVD Predictions
- Licensed and leisure - Covid bounce
The Ingredients of a Successful Revaluation
- What worked well last time – can lessons be learnt?
- It’s only as good as the evidence – how does the VOA gather this?
- The valuation period – what’s being valued when?
- How to get involved – over to you Helen!
Pre Influencing and GPCR
- Valuation Office Agency
Change of Supply of Properties
- Partly from Brexit, partly from hybrid working along with the usual ebb and flow of market trends and needs, what property is abundant; and what is in demand?
- How does the market respond with upwards only rent reviews?
- What the locality reality means in a MCC world?
Talking Heads – Triple Maintenance
Practitioners need to consider what to do with properties in regards to 2017, 2023 and the coming 2026 entries.
- What do the numbers look like after the end of list spike?
- Action on one List may create unintended consequences on the other Lists
- When is the right time to act?
- Managing clients
Programme followed by a Drinks Reception.