Businesses who occupy the best grade-A properties in Central London will overall see increases in their business rates next April –according to business rates experts at Colliers who have analysed properties in 28 London boroughs- although there will be a few winners as well as losers following the Revaluation.
Colliers has reproduced its interactive map to help its clients understand the changes more clearly.
Following the publication of the draft list, the rateable value of offices in Central London as a whole have risen from £8.5 billion to £9.7 billion an increase of 14.1 %. This has fed through into changes in liability (rates payable), as the table below shows.
Colliers notes there are some inconsistencies in the markets with some big changes in rates bills in certain markets such as in Mayfair, Kensington and Fitzrovia where bills look to increase by 33% , 29% and 24% respectively following the Revaluation. In Mayfair businesses in prime office space will be paying rates bills at the highest level in Central London – a massive £89.52 per sq. ft followed by St James’s at £69.90 per sq. ft. And overall properties in twelve of the 28 boroughs will be paying rate bills of more than £40 per sq. ft and a further seven over £35 per sq. ft.
However, many of the areas will see modest rises with 16 boroughs showing rates increases of less than 10%.
| WEST END | % Change in Liability |
| Bloomsbury | 1% |
| Chelsea | 8% |
| Covent Garden / Strand | 8% |
| Euston | 9% |
| Fitzrovia | 24% |
| Kensington | 29% |
| King’s Cross | 9% |
| Knightsbridge | 0% |
| Marylebone | 3% |
| Mayfair | 33% |
| North of Oxford Street | 5% |
| Paddington | 20% |
| Soho | 5% |
| St James’s | 9% |
| Westminster | 7% |
| Victoria | 9% |
| CITY | % Change |
| City Core | 3% |
| City Towers | 5% |
| Holborn | 2% |
| Eastern City/Aldgate | -4% |
| Farringdon | 9% |
| Shoreditch | -4% |
| DOCKLANDS | % Change |
| Canary Wharf | -6% |
| Marsh Wall | -4% |
| SOUTHBANK | % Change |
| London Bridge | -3% |
| Southbank | 0% |
| Waterloo | 0% |
| Vauxhall / Battersea | -4% |
There are also some submarkets such as Farringdon and Shoreditch where Colliers were expecting much more significant rate bill increases based on the AVD rental evidence.
In six areas rates bills will fall next April: in Canary Wharf, -6% , MarshWall,-4% East City/Aldgate -4%, Shoreditch -4%; Vauxhall /Battersea -4% and London Bridge -3%. Rates liability in Canary Wharf will now be £16.86 per sq ft and in Marsh Wall £12.77 per sq ft- the lowest in our Central London analysis.
Explaining the inconsistent picture, Alex White, Head of Business Rates in London for Colliers said, “ The general theme based on the draft list figures that were released last week is one of winners and losers. Although we have seen the majority of Rateable Values on Central London offices increase, the rebasing of the multiplier, even for those with valuations over £500k, has seen those with the smallest Rateable Value increases actually better off from 1st April 2026.
On the flip there are some markets where Rateable Values have increased materially and even with the lowering of the multiplier, rates liability will see sizable double digit percentage increases.
Now we are aware of the 2026 Rateable Values it allows us to review ratepayers’ rates liability over a 6-year period from 1st April 2023 to 31st March 2029 to ensure the accuracy of the tax. This is something all Central London office occupiers and Landlords should do, particularly with the deadline to look at the retrospective position closing on 31st March 2026.”
