How factories, workshops and warehouses are valued for business rates
Find out how the Valuation Office Agency (VOA) calculates rateable values for factories, workshops and warehouses.
Applies to England and Wales
How factories, workshops and warehouses are valued
The Valuation Office Agency (VOA) uses the rental comparison method to value factories, warehouses and workshops. We group these properties with similar properties into valuation schemes. We measure them using the gross internal area (GIA) method. Find out more about the rental method, valuation schemes and GIA.
To value factories, warehouses and workshops, the VOA:
- gathers information about rents paid for a property and similar nearby properties
- analyses the information and works out a price per square metre for the property
We also consider the property’s:
- size
- age
- location
- land
- features, such as eaves height and heating
We multiply the price per square metre by the property’s floor area to calculate the rateable value.
Find out how to get help updating your factory, workshop or warehouse’s property details.
Plant and machinery
Plant and machinery, car parking and land may be shown separately in the rateable value calculation. Plant and machinery can include:
- sprinklers
- air conditioning
- CCTV
- heating