In early 2024, LOWE was appointed to manage a former school located in the heart of Ladbroke Grove. At the time of handover, the property presented a number of compliance challenges that made it unsuitable for immediate Guardianship. However, following a detailed inspection and a comprehensive fit-out by our in-house team, we brought the building up to the required standard — enabling us to successfully fill it with 29 carefully vetted property guardians.
While securing the building through guardianship was the initial priority, our client was also keen to explore additional ways to reduce ongoing costs. One such opportunity was our Rates Mitigation service — a solution LOWE offers alongside guardianship, where appropriate, to deliver even greater value for property owners.
Once the building reached full occupancy, we initiated the rates mitigation process, providing evidence of the building’s new use. Six months later, we were delighted to secure a successful outcome at the Check stage: a revised Rateable Value (RV) reduction of £167,000 — an 80% saving, translating to £91,000 in annual savings for our client.
These substantial savings come on top of the significant reduction in traditional security costs, which typically exceed £100,000 per year.
Through this dual approach of guardianship and rates mitigation, our client not only safeguarded their asset against risks such as squatting, antisocial behaviour, and deterioration, but also contributed to real social value — offering affordable accommodation at approximately 65% of market rent for key workers and young professionals.
The success at Telford Road is particularly encouraging in the context of recent changes following the finalisation of the Ludgate House case. It marks a positive step forward for rates mitigation in the property guardianship sector — and we are proud to be leading the way.
Enquire here to learn how your vacant property can significantly reduce costs while delivering social impact.