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.
* 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.
* April 2010 and April 2015 reflect Antecedent Valuation Date
In the south, SE1 comprises a relatively new and under-developed property market, which has only begun to flourish in recent times due to a combination of new quality product, improved accessibility and infrastructure.
In a broader Central London environment of constrained supply, occupiers have been encouraged to consider alternative locations.
The majority of office stock in SE1 is second-hand accommodation spread along the river in relatively large units and further south in smaller suites. However, a large number of pre-lets from 2000 onwards has transformed the Southbank near to London Bridge.
Once considered a fringe district, Southbank is now regarded as an extension of the City Core, comparable to the City of London and City of Westminster. Despite being a sub-market which has been slower to develop than any other, it is now experiencing significant changes and strong demand.
New development schemes in SE1 now boast some of the world’s largest accountancy practices, the headquarters of many blue chip corporations, as well as the Mayor of London. It is also a key destination for Londoners and tourists, being a cultural and entertainment hub.
Find out how Knight Frank's Business Rates team can help save you money. Contact us today or calculate business rates.
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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