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Key Contacts

Shorditch & Clerkenwell

Shoreditch/Clerkenwell has undergone a number of economic and property market changes over recent years. The area surrounding Old Street roundabout (colloquially known as Silicon Roundabout) has been the subject of a much publicised Government initiative to attract inward investment and increase growth within the digital, creative and high technology sectors of the UK, European and wider global economy.

Traditionally seen as a cheap alternative to the City, with relatively low quality stock, the area, has seen rapid rental growth as developers have brought to market various new quality buildings.

Many of the historic industrial buildings are also being converted to residential use to fulfil the growing demand of City professionals for their pieds à terre close to the City of London.

Occupier profile

Shoreditch/Clerkenwell has its roots in the printing industry and remains popular with media occupiers. More recently, the TMT and serviced office operators have been attracted to the area due to its trendy image and comparatively cheap rental profile. Shoreditch/Clerkenwell is now becoming a location for stage two tech firms who are acquiring the size and characteristics of mainstream companies. This is a healthy progression for the market.

2021 Rating revaluation impact on business rates across London

Business Rates Map

The new Rating List will come into force on 1st April 2021 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 2021 Rating List will reflect the changes in the rental market between April 2015 and April 2019.

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 ft2019/202020/212021/22Change (%)
Rate Payable £22.49 £23.01 £33.75 50.06%