The Royal Institute of Chartered Surveyors (RICS) believes that removing rate relief on empty property will not achieve the government’s intended aim of increasing the supply of commercial property.

This follows the second reading of the Ratings (Empty Properties) Bill.

Nadia Nath-Varma, RICS’ public policy officer, said: “Properties are not left deliberately vacant so an additional charge will not act as an effective incentive. It may in fact have the opposite effect as developers could be discouraged from speculative development, reducing supply and increasing rents.

“Empty property rates will only act as a roadblock to much needed regeneration schemes as developers will be reluctant to risk having to pay rates on empty properties where demand is weak. The government should pay attention to the recommendations of the Lyons Inquiry and allow for proper consultation on all rate reliefs and exemptions, rather than rushing into reform without considering the adverse effects.”