Businesses across the Capital will need to be aware that their rating assessments are currently being re-valued with the new Rating List coming into force on 1st April 2017.
Click on the map to view business rate changes by London area or select an area from the dropdown.
The new rating list will come into force next year and the anticipated changes in business rates for this locality are set out below.
* April 2010 and April 2015 reflect Antecedent Valuation Date
The Noho office market is the area bounded by Euston Road to the north, Oxford Street to the south, Tottenham Court Road to the east and Portland Place to the west. The area is a truly mixed-use district with office, retail, residential, healthcare and education all featuring in similar measures.
Driven by strengthening demand and an under-supply of stock, the prime rent in Noho has now reached the highest ever recorded in the area.
Looking ahead, we expect the area’s positive performance to continue, particularly given its enhanced connectivity with the introduction of Crossrail.
The occupier base in Noho has historically been associated with London’s garment industry, although more recently the media sector (particularly television and film production), tech and creative industries have sought offices in the area.
Recent big name tenants such as Facebook and Estée Lauder have been attracted to the area for its central location, dynamic street culture and strong connectivity network.
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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 lilac.
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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