Joint Effort Results in Business Rate Reduction
More than 200 businesses in Dunstable will benefit from a reduction in their rateable value following a recent Valuation Office announcement.
The reduction – which will come into force within the next two months - works out at between ten and 20 percent which will equate to a similar reduction in their business rates.
The change to rates follows partnership work, which was led by Andrew Selous MP, between Central Bedfordshire Council, Dunstable Town Council, Alexanders & Co and the Valuation Office.
Over the past few months empty properties in Dunstable have been filled with new retailers such as Sweet Station, Dunstable Aquatics and Easy Cuts all moving into the Town Centre. There are also a number of other retailers looking to relocate into the town and a large hotel chain is also currently considering a site within the town centre.
There is still plenty of work going on though and the Dunstable Masterplan, which is funded through Growth Area Funding (GAF), will create a blueprint for further development in the town and the preferred development options will be put out for public consultation in late summer.
Andrew Selous MP said: “I am delighted by this news. It will not help all Dunstable businesses, but it will help some that are struggling to pay their business rates. I am very pleased that the Valuation Officer has acted after I asked him to come to meet local shopkeepers, Councillors, officers and community groups on the 5 February at Grove House in Dunstable.
“I would like to pay tribute to the work of Central Bedfordshire Council, Dunstable Town Council, the Federation of Small Businesses, Long Live Dunstable, the Dunstable Business Forum and the Dunstable and Houghton Regis Area Focus Group who all worked together with assistance from Geoff Alexander of Alexander’s commercial property agents in the town to achieve these rate reductions.”
Cllr Ken Mathews, Portfolio Holder for Economic Growth, Skills and Regeneration at Central Bedfordshire Council said: “This change to business rates shows what can happen when people all work together and towards the greater good for Dunstable.
“There have been concerns about rates in the town for some time and the detrimental effect that this could have on businesses looking to relocate to Dunstable.
“With more than 26,000 houses scheduled to be built by 2021 it is imperative that we attract businesses to support the infrastructure and I believe this reduction in rates will go some way in helping that.”
Date Published: 09/06/10