The majority of London’s large financial sector occupiers are clustered in the heart of the City Core, around the Bank of England in EC2. However, the submarket is also home to London’s insurance industry which is clustered around Lloyds of London in EC3. While the traditional legal occupiers are concentrated around the Royal Courts, the large corporate lawyers have followed their clients, and many are based alongside financial institutions in the City Core.
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 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.
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 (%)|
|Per sq ft||2016/17||2017/18|
The City rateable value as AVD
*April 2010 and April 2015 reflect Antecedent Valuation Date
Take-up by sector - last 12 months