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Key Contacts

West-End

The West End market comprises around 90m sq ft of office stock and covers the area from Hammersmith in the west to Kingsway in the east, and Camden in the north to the River in the south. The prime area for offices within the West End market is the Core (Mayfair/St James’s) where during the last cycle headline rents reached £110.00 per sq ft – the highest in the world at the time.

Offices in this core area tend to be smaller in size than in surrounding submarkets due to planning regulations restricting large-scale development, however, much of the stock has been redeveloped behind retained facades and is of good quality. When larger developments have been brought to the market, they have tended to perform well, generating competition amongst occupiers.

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

The occupier base in the West End Core ranges from multi-national corporate headquarters operations to niche financial businesses. The Core has, in the past, attracted occupiers at the forefront of new business innovation from private equity in the late 1980’s, to dot.com businesses in the early 2000’s and more recently, hedge funds.

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 £53.55 £54.78 £47.25 -11.76