E3 Consulting Aims to Save the Rose Bowl £1.5m in Property Tax Relief

E3 Consulting has been advising Rose Bowl Plc on its development of the West & East Stands and associated works in a contract which could save up to £1.5m in tax

Rose Bowl 

The new stands are to be used for the first time for the One Day International match between England and Australia on 22nd June and forms part of the ongoing ground redevelopment; bringing the Rose Bowl up to Category A status so that it will be able to host Test cricket.  Upon completion of the stands and planned hotel, the Rose Bowl will become one of the UK’s leading cricket venues and is currently scheduled to host Sri Lanka for its first Test Match in 2011.

The ground has increased capacity from 20,000 to 25,000 and the number of permanent seats will increase to 15,000, becoming one of the largest cricket grounds in the UK.  Improved facilities for disabled spectators and their carers and an increasing number of under-cover seating offers spectators a comfortable and enjoyable Cricket experience, whatever the weather!

Additionally the 9-hole golf course is to be developed into an 18-hole Championship course further expanding facilities at the Rose Bowl.

E3 Consulting’s team has experience in large stadia developments, having previously advised Anschutz Entertainment Group on both Manchester Evening News Arena and The O2 in Greenwich, as well as Harlequins RFC and an earlier phase of Surrey County Cricket’s The Brit Oval development, achieving considerable tax savings.

E3 Consulting has had an active dialogue with Rose Bowl Plc over the last few years and was involved in design discussions with project architects EPR and the potential contractors.  Rose Bowl Managing Director, Glenn Delve said “E³ Consulting has enabled us to factor in the benefits from the property tax relief from the outset of their involvement, so that we could incorporate the potential tax savings and cash flow benefit into our financial models, helping us enhance the overall viability of the project”.

Alun Oliver, Managing Director of E³ Consulting, commented “Our early involvement meant that we could raise the issue of Enhanced Capital Allowances (ECAs), applicable on expenditure on energy efficient or water conservation plant & machinery, thus helping to accelerate the tax savings, whilst improving the design efficiency and life cycle costs too.  These ECAs provide 100% allowances in the first year, but unfortunately are often overlooked by developers, investors and their non specialist advisors”.

E³’s specialist skill-set and combined knowledge of construction and tax, in assessing the capital allowances claim on the developments is anticipated to identify between £4m and £6m eligible expenditure and yield tax saving for Rose Bowl Plc in the region of £1.5m from their investment in the ground and associated facilities.

E³ provides specialist support to property investors, developers and owners whether directly or in conjunction with other professionals to ensure the property taxation aspects are fully considered.  This new appointment by Rose Bowl Plc increases E3’s growing credentials and client base in the sport, leisure and hospitality sectors.

To optimise your property tax savings contact E3 Consulting on 0845 230 6450 when considering any significant property or project expenditure. 

This article was published in The Business Magazine, Business Section on 20 June 2010.

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