Aprirose – Appeal to zero-rate Holborn Central following refurbishment works

Project Introduction

Real estate investment company Aprirose appointed Daniel Watney to mitigate the empty rates liability following their acquisition of Holborn Central. The island site above Holborn tube station comprised of approx. 70,000 sq ft of vacant office space with some ground floor retail let to tenants such as Vodafone and Crispy Kreme.

Business Rates Services

Our Role

Before any instruction we carry out a thorough due diligence of the rating assessments

We set out a proposed strategy to mitigate the empty rates liability and the potential savings

The agreed strategy is implemented with DW liaising with the Valuation Office Agency and billing authority on the client’s behalf

Upon securing a rates rebate DW reports the total savings in liability.


Daniel Watney successfully reduced the Rateable Value to £0 following refurbishment works, significantly reducing the holding cost for the landlord while the property was marketed to let. The total savings in empty rates liability achieved on this building exceeded £800K.

Shortly after the refurbishment was completed the property was sold to the Hagag Group, a property company based in Israel, for £52m.