Business rates on Number One Riverside to increase by over £47,000
Date published: 08 October 2016
Photo: Journeaux
Number One Riverside
The rateable value of Number One Riverside - Rochdale Borough Council headquarters - has been increased from £1,470,000 to £1,620,000 in the recent nationwide revaluation.
This means that from April 2017, the rates payable for the building will go up from the current £730,590 to £777,600, an increase of £47,010.
At revaluation, the government adjusts the value of business rates to reflect changes in the property market.
The revaluation of business properties usually happens every five years but was controversially delayed by two years as a result of the economic downturn. The last revaluation came into effect on 1 April 2010 based on the property market as long ago as 1 April 2008.
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