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

The government has introduced a support package worth £4.3 billion over the next three years to protect ratepayers seeing their bills increase because of the revaluation. If you previously received Small Business Rates Relief, Rural Rate Relief, the Supporting Small Business scheme or Retail, Hospitality and Leisure relief, you may be eligible for the Supporting Small Business scheme, which caps your bill increases. Further details can be found here.

Current rateable value (1 April 2026 to present)

£357,500

This is the rateable value for the property. It is not what you pay 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: 2026
• Effective date: 1 April 2026
• Valuation scheme reference: 678042
• Base rate: £1,445.00
• 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 678042 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 £361.25	Value £5,079
Description Basement floor kitchen	Area m²/unit 66.16	£ per m²/unit £722.50	Value £47,801
Description Basement floor mess/staff room	Area m²/unit 5.14	£ per m²/unit £361.25	Value £1,857
Description Ground floor restaurant	Area m²/unit 78.59	£ per m²/unit £1,445.00	Value £113,563
Description Ground floor internal storage	Area m²/unit 0.86	£ per m²/unit £722.50	Value £621
Description First floor restaurant	Area m²/unit 143.59	£ per m²/unit £722.50	Value £103,744
Description First floor public toilets	Area m²/unit 34.87	£ per m²/unit £361.25	Value £12,597
Description First floor internal storage	Area m²/unit 4.2	£ per m²/unit £361.25	Value £1,517
Description Basement floor cold store	Area m²/unit 8.59	£ per m²/unit £361.25	Value £3,103
Description Ground floor internal storage	Area m²/unit 12.95	£ per m²/unit £722.50	Value £9,356
Description Ground floor kitchen	Area m²/unit 38	£ per m²/unit £1,445.00	Value £54,910
Description Ground floor public toilets	Area m²/unit 4.74	£ per m²/unit £722.50	Value £3,425
Total	Area m²/unit 411.75	£ per m²/unit	Value £357,573

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	£359,406
Rateable value (rounded down)	£357,500

Help with current valuation

You want to change something in this valuation

You can tell the Valuation Office (VO) that:

• your property details (such as floor area sizes and parking) need changing
• you think your rateable value is too high

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 678042 which groups comparable properties together.

More about how business properties are valued

The rateable value and your business rates bill

£357,500 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

Compare properties

Compare your property with others like yours and see their:

• rateable values
• rateable value calculations

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