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Key Contacts

Southwark

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.

2021 Rating Revaluation - Impact on Business Rates across London

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 2021.

Click on the map to view business rate changes by London area or select an area from the dropdown.


Occupier profile

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.

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  £23.85 £24.40 £30.38 27.34