Market Towers - London

Property: Market Towers, 1 Nine Elms Lane, London, SW85NQ

Total savings in empty business rate liability: £2,579,903.68

The Challenge:

Market Towers, a large commercial property located in one of London’s highest value business districts, faced a significant financial burden due to empty property business rates. With more than £2.5m in liabilities at stake the owners needed a compliant and reliable way to mitigate costs while ensuring they met all regulatory requirements. 

The Solution:

Jones Hobbs Hawkins, a RICS regulated firm of chartered surveyors implemented its proven Empty Rate Saving Model. This fully compliant approach transferred responsibility for the business rate liability away from the client while enabling charitable use of the space. Through partnership with The Photographic Angle, a registered UK charity, the property was used for public benefit exhibitions satisfying all legal requirements for the charitable occupation. 

The Outcome:

By applying their tried and tested model Jones Hobbs Hawkins successfully removed the empty rates liability for the duration of the agreement. The client achieved £2,579,903.63 in savings with no upfront costs and no fees beyond those drawn from the savings secured. 

This case highlights the effectiveness of the Jones Hobbs Hawkins approach in supporting owners of high value commercial properties, delivering substantial financial relief while maintaining compliance.