Leeds businesses occupying grade A office space are set to face a significant increase in their business rates following the 2026 Revaluation. The city’s central business district will see rates soar by up to 44%, with rates expected to jump from £12 per square foot to nearly £20 per square foot. This surge is attributed to high demand and limited supply in prime office locations.
While the rise is steep, Leeds’ rates remain favourable compared to London, where some business districts will experience rates exceeding £40 per square foot after the revaluation.
For businesses in Leeds’ sought-after office spaces, this increase adds another layer of pressure in an already challenging cost environment. With rising operational costs, companies will need to incorporate these changes into their budgeting and long-term property strategies. To navigate potential overvaluations in the Draft List later this year, a solid understanding of local market conditions will be key.
