The new rating list will come into force next year and the anticipated changes in business rates for this locality are set out below.

Per sq ft April 2008 April 2015 Change(%)
    
Rateable Value £33.50 £52.50 56.72
Per sq ft 2016/17 2017/18* 2017/18**
    
Rate Payable  £17.32  £20.28 £29.61

* It is assumed liability increases will be capped based on the same Transitional Relief levels as the current list. To qualify the property must be in the 2010 List on the 31st March 2017.

** Assumes property does not qualify for Transitional Relief.

Aldgate/Whitechapel Rateable Value as AVD

* April 2010 and April 2015 reflect Antecedent Valuation Date 


aldgate office occupiers

Take-up by sector - last 12 months 


With an office stock of just 6.5 m sq ft, the City’s Aldgate/Whitechapel is the smallest of the City sub-markets. Nearly a third of the market is found in the E1 8 sub-postcode, which is the area to the South East of Aldgate Underground station.

It is bounded to the West by the City Core and to the East by Docklands. Whitechapel Road is on the Crossrail route. Until six years ago, rents in Aldgate/Whitechapel were comparable with those in Shoreditch/Clerkenwell.However, recent years have seen rents surge ahead.

Shoreditch/Clerkenwell has been the focus point of London’s new wave of tech firms; whereas Aldgate/Whitechapel has been more of an overspill for the sector. Recent new office developments have, however, improved the quality of stock.

Occupier Profile

Aldgate/Whitechapel is home to a mixture of occupiers. While in the past it has been thought of as a back office district for large banks and insurance companies, the rise of London’s technology and creative sector, coupled with rent inflation in Shoreditch, has resulted in more tech and creative start-up companies favouring the E1 postcode.

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2017 Rating revaluation impact on Business Rates across London

 


 

The new Rating List will come into force on 1st April 2017 and this will herald changes to the level of business rates charged across the Capital.

Our heat map reflects the anticipated impact businesses will face next year within each submarket.

Those with the strongest increases are in dark red and those in the lowest are in dark blue. By way of background, the rating lists are based on the rental market two years before the list comes into force.

The 2017 Rating List will reflect the changes in the rental market between April 2008 and April 2015.

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