Leeds businesses in prime office locations will experience the most significant increase in business rates next April, following the 2026 Revaluation. Colliers estimates that rateable values for Grade A office space in the city’s Central Business District (CBD) could rise by up to 44%, the highest among major UK cities.
The surge is driven by strong demand and limited supply of prime office space, pushing rental growth and increasing rateable values. Over the last three years, Leeds has seen a 67% increase in rateable values, reflecting the pressure on available top-tier office stock.
As a result, businesses occupying these high-demand offices can expect their rates bills to rise from £12 per square foot this year to nearly £20 per square foot in 2026. The substantial rise in rates adds further pressure on businesses already grappling with other rising costs, particularly in an environment of economic uncertainty. Finance teams and CEOs in Leeds will need to prepare for these increases, adjusting their property strategies accordingly.
