Double Whammy for London Office Occupiers?
research has highlighted the potential that the 2017 Rating Revaluation could significantly increase property costs
for London office occupiers.
Rating List (to be introduced from 1st April 2017) will be based
upon office rental values in Central London on 1st April 2015.
current 2010 Rating List was based upon the levels of rent in April 2008. The
Government has (by accident) chosen 2015 another period with sharply rising
rents in the Central London office market on which to base the new 2017
result, the across the board rental increases recently witnessed in the City,
Mid-town, West End and Docklands are likely to result in widespread uplifts in
rateable values (particularly for top quality Grade A buildings) from April
if a “transitional relief” or phasing system is introduced from that date, if
past schemes are to be followed it would still give a minimum of 12.5% annual
increases for Central London office occupiers from April 2017 onwards.
idiosyncrasies of the rating system will draw up anomalies and inconsistencies
which inevitably merit appeals on behalf of certain occupiers but by no means
Perkins renowned expertise in the field can advise on the benefits and
advisability of appeals either now or in the future.
you require further information please contact Michael Moon MRICS – Head of
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