Important

On 1 April 2026, the Valuation Office Agency (VOA) became part of HMRC and is now known as the Valuation Office (VO). You may still receive correspondence referring to the Valuation Office Agency (VOA) while we update our branding.

Property

(& 1-1a Victoria Avenue) Bst-1st Fs 186-188, Bishopsgate, London, EC2M 4NR

Contents

Valuation

Previous rateable value (20 October 2021 to 11 July 2023)

£337,500

This was the rateable value for the property. It is not what you would have paid in business rates or rent. Your local council uses the rateable value to calculate the business rates bill.

Estimate your business rates bill (opens in new tab)

Valuations for this property

Valuations	Effective date	Rateable value
Valuations Current 1 April 2026 to present	Effective date 1 April 2026	Rateable value £357,500
Valuations Previous 1 April 2023 to 31 March 2026	Effective date 1 April 2023	Rateable value £377,500
Valuations Previous 12 July 2023 to 31 March 2023	Effective date 20 October 2021	Rateable value £160,000
Valuations Previous 11 March 2022 to 11 July 2023	Effective date 20 October 2021	Rateable value £337,500
Valuations Previous 1 April 2017 to 10 March 2022	Effective date 1 April 2017	Rateable value £337,500

Valuation details

• Description: Restaurant and premises
• Local council: City of london
• Local council reference: 0000053323010A
• Rating list: 2017
• Effective date: 20 October 2021
• List alteration date: 11 March 2022
• Valuation scheme reference: 390057
• Base rate: £1,585.00
• Measurement method: Net internal area
• Transitional relief certificate issued: No
• Special category code: 234G

How the rateable value is calculated

The Valuation Office (VO) uses a ‘rental’ method to value restaurants.

The VO gathers information about rents paid for comparable business properties. It analyses the information and works out a price per square metre. It also considers local conditions and property characteristics such as outside seating, unusual layouts and air conditioning.

Zoning or an ‘overall’ method is used to apply the price per square metre to the property and get the rateable value.

This property is part of valuation scheme 390057 which groups comparable properties together.

More about how business properties are valued

Restaurant floor areas

Description	Area m²/unit	£ per m²/unit	Value
Description Basement floor internal storage	Area m²/unit 14.06	£ per m²/unit £396.25	Value £5,571
Description Basement floor kitchen	Area m²/unit 66.16	£ per m²/unit £396.25	Value £26,216
Description Basement floor mess/staff room	Area m²/unit 5.14	£ per m²/unit £396.25	Value £2,037
Description Ground floor restaurant	Area m²/unit 78.59	£ per m²/unit £1,585.00	Value £124,565
Description Ground floor internal storage	Area m²/unit 0.86	£ per m²/unit £792.50	Value £682
Description First floor restaurant	Area m²/unit 143.59	£ per m²/unit £792.50	Value £113,795
Description First floor public toilets	Area m²/unit 34.87	£ per m²/unit £396.25	Value £13,817
Description First floor internal storage	Area m²/unit 4.2	£ per m²/unit £396.25	Value £1,664
Description Basement floor cold store	Area m²/unit 8.59	£ per m²/unit £396.25	Value £3,404
Description Ground floor internal storage	Area m²/unit 12.95	£ per m²/unit £792.50	Value £10,263
Description Ground floor kitchen	Area m²/unit 38	£ per m²/unit £792.50	Value £30,115
Description Ground floor public toilets	Area m²/unit 4.74	£ per m²/unit £792.50	Value £3,756
Total	Area m²/unit 411.75	£ per m²/unit	Value £335,885

Additional details

Description	Area m²/unit	£ per m²/unit	Value
Description Air conditioning system	Area m²/unit 261.9	£ per m²/unit £7.00	Value £1,833
Total	Area m²/unit	£ per m²/unit	Value £1,833

Valuation

Total value	£337,718
Rateable value (rounded down)	£337,500

Help with previous valuation

You want to change something in this valuation

You can no longer tell the Valuation Office (VO) about changes to property details (by sending a Check case) for any valuations on the 2017 rating list.

You can tell the VO you think the rateable value was too high by sending a Challenge case. You must have sent a Check case before 1 April 2023 and (any of these apply):

• you send the Challenge case within 4 months of the Check case decision
• you have waited more than 12 months and not received a Check case decision
• the Challenge case is about a change in the local area (such as long-term roadworks), you send it within 16 months of sending the Check case and you have received our Check case decision

You can also tell the VO you think the rateable value was too high if (any of these apply):

• the VO have altered this valuation in the last 6 months
• a court decision affected this property’s rateable value

You need a business rates valuation account to tell the VO yourself or appoint an agent to do it for you.

How to use a business rates valuation account

How the rateable value is calculated

The Valuation Office (VO) uses a ‘rental’ method to value restaurants.

The VO gathers information about rents paid for comparable business properties. It analyses the information and works out a price per square metre. It also considers local conditions and property characteristics such as outside seating, unusual layouts and air conditioning.

Zoning or an ‘overall’ method is used to apply the price per square metre to the property and get the rateable value.

This property is part of valuation scheme 390057 which groups comparable properties together.

More about how business properties are valued

The rateable value and your business rates bill

£337,500 is the rateable value for this property set by the Valuation Office.

It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate your business rates bill.

Business rates are used to partly fund local council services.

Estimate your business rates bill

You may also be entitled to business rates relief.

Business rates relief

Some properties are eligible for discounts from the local council on their business rates. You have to contact your local council to see if you’re eligible and apply.

More about business rates relief

Contact your local council

Report a problem with this page.

If you are having trouble using this service, you can contact us for help.

Email address: ccaservicevo@hmrc.gov.uk