Empty offices need 'rate relief'
Latest News
- 'Spamalanche' awaiting workers
- 06 January 2009
- Tough year for workers predicted
- 06 January 2009
- Londoners urged to recycle
- 06 January 2009
- Firm makes office switch
- 05 January 2009
- Customer care 'key during crunch'
- 05 January 2009
- Search the News Archive
- January's News
Categories: Economic News
19 August 2008
The government has today been called upon to reapply business rate relief for empty properties.
Andrew Teacher, head of media for the British Property Federation (BPF), made the claim after recent reports stated there is currently 30 million sq ft of empty London office space, with some unoccupied developments being demolished due to tax rates.
Hot Property
Mr Teacher said the government must "gradually reapply business rate relief for empty property", before adding the tax is "causing further harm to both the property industry and the wider economy".
He added: "Charging poor business rates on empty property will only serve to reduce the supply of property and cause further trauma to businesses when the government should be giving them a helping hand."
The statement comes shortly after the BPF claimed tax on empty commercial property is resulting in office blocks being knocked down.
A spokesperson for the federation told the Times the rate could "discourage companies from development, which could stop regeneration".
For the smartest way to find office space in London, let FindaLondonOffice help you
For Office Space in London? Talk to our advisors