What are VOA valuations?
VOA valuations are business rates which are revised every five years. The business rates are revised every five years and the local council will provide you with a business rates bill each year. There are exemptions available such as small business relief.
Classes of Commercial Property:
Commercial Property is divided into classes of use under the Town and Country Planning (Uses Classes) Order 1987. The Legislation governs what business can be carried out at the property and you should ensure that the Commercial Property you plan to buy can be used for that which you intend to use it for.
The Classes are defined as follows:
• A1 shops
• A2 financial and professional services
• A3 restaurants and cafés
• A4 drinking establishments
• A5 takeaways
• B1 business
• B2 industrial
• B8 storage or distribution
• C1 hotels
• C2 residential institutions
• C2A secure residential institution
• C3 homes
• C4 houses in multiple occupation
• D1 non-residential institutions
• D2 entertainment and leisure