SWEET SAVINGS

The original Patisserie Valerie first opened its doors in 1926, in Frith Street, when Belgian born Madam Valerie decided to introduce a taste of the continent to the English. The national Vienneoisserie company is sister to Drucker’s Vienna Patisserie and Baker and Spice, based in the south.

CVS was instructed to see if business rates savings could be made across a number of their retail bakeries.

RESULTSThe process is very much at the beginning for Patisserie Valerie. 26 sites are currently being appealed and CVS have already saved them over £521,000.

SURVEYOR COMMENTS“Assessing retail food stores is often tricky as there are a number of factors that the Valuation Office doesn’t take into account such as layout, interior changes to accommodate kitchen equipment such as ovens and any issues with the local area that can affect footfall such as major road-works or public transport disruptions. Along with a team of surveyors with local knowledge specific to each site, we were able to lodge a number of very strong appeals for Patisserie Valerie. The early results are encouraging and I am sure we will see more savings for our client.”

Joe Thornborrow, Rating Consultant, CVS

Savings of £521,425

Savings of £521,425

“Business rates have always represented a significant overhead to us as a growing company. With plans for a further 18 sites in 2012, overvaluations, if only by a small amount, have adverse implications on store contributions and cash flow. We are pleased with the savings received to date and are confident that CVS are compiling the strongest cases to appeal to the Valuation Office on our remaining sites.”

ANDY SINGLETON,

HEAD OF REAL ESTATE, PATISSERIE VALERIE