Businesses occupying prime Grade A office property in the central business districts of Birmingham, Leeds and Manchester will see significant rises in their business rates bills next April, following the 2026 Revaluation.<\/p>\n
That is according to Colliers, which estimated that office occupiers in the best space in Birmingham could see increases of up to 26% in their bills next year, in Manchester, an increase of 25% and in Leeds, perhaps as much as 44%.<\/p>\n
John Webber, head of business rates at Colliers, said: \u201cOf course we are talking about the best office space in these regional centres- in the CBDs- and there will be poorer stock elsewhere not seeing such a high growth in rental values and therefore in liability.<\/p>\n
\u201cSimilarly, even with these hikes, the rents and rates bills in these business areas will still be significantly more attractive than in London.<\/p>\n<\/p>\n
\u201cOur recent London\u00a0office research estimated that 13 out of 27 London business areas will have business rates bills based at over \u00a340 per square foot after the Revaluation. These regional centres are generally about half of that.<\/p>\n
\u201cEven so, in the local regional market these rises will be significant- and all point to the increasing burden that business rates bring onto businesses, at a time when they are facing other rising costs elsewhere. This may curb further investment and expansion.<\/p>\n
\u201cFinance Directors and CEOs of businesses in prime regional office space will need to be budgeting and planning for increased office occupancy costs within their property strategy, and using really robust local market expertise to challenge any inappropriate increases published in the Draft List later this year.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Businesses occupying prime Grade A office property in the central business districts of Birmingham, Leeds and Manchester will see significant rises in their business rates bills next April, following the 2026 Revaluation. That is according to Colliers, which estimated that office occupiers in the best space in Birmingham could see increases of up to 26% […]<\/p>\n","protected":false},"author":1,"featured_media":1987,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n