Safestore, Orpington
Lagoon Road, Orpington, Kent
Safestore Ltd
The unit is a 6,000 sq m self storage facility on a large industrial estate, but with main road frontage. Originally constructed in the 1950s, external cladding led the Valuation Office to consider it rather more modern.
Significant alterations to the value of the mezzanine areas, a large reduction in the basic warehouse price (£49 per sq m down to £36 per sq m) and a reduction (38%) in the price applied to the surfaced storage land, produced a 34% reduction in the assessment, down from £243,000 in the 2005 List, to an agreed RV of £161,000.
We are Rating Advisers across the whole Safestore portfolio and also advise them on leasehold obligations to landlords, particularly in relation to service charge assessments.
Lagoon Road, Orpington, Kent