You will be aware of the Executive's proposals to introduce the above measure next year, for one year, providing 50% relief for the first full year of occupation (any non domestic use) of a long term empty shop. The concession will have to be applied for between 1st April 2012 and 31st March 2013.
Although the legislation is intended for existing shops, it also allows new 'never occupied' shops to qualify. However, to do so the premises must have been in the Valuation List for at least a year (or the property has a completion notice with an effective date 12 months before first occupation) and have been empty for that entire period.
Many developers/investors stop well short of completion to avoid empty property rates and they can continue that practice, however, Members should be aware of the downside which would mean that this could rule their client out of entitlement next year to this new concession.