How offices are valued for business rates
Find out how the Valuation Office Agency (VOA) calculates rateable values for offices.
Applies to England and Wales
How offices are valued
The Valuation Office Agency (VOA) usually uses the rental comparison method to value offices. We group similar properties together into valuation schemes. We usually measure them using the net internal area (NIA) method. Find out more about the rental method, valuation schemes and NIA.
To value offices, 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:
- rent-free periods
- improvements made by the tenant
- unusual lease terms
- fit out costs
We multiply the price per square metre by the property’s floor area to calculate the rateable value.
Car parking may:
- be shown separately in the valuation
- be included in the total price per square metre
- receive a separate rateable value
Find out how to get help updating your office’s property details.
Plant and machinery
Plant and machinery may be shown separately in the rateable value calculation and can include:
- air conditioning
- heating
- CCTV
- sprinklers
Serviced offices
The VOA values serviced office buildings as either a single assessment or multiple properties. This depends on whether the:
- unit holder is in possession
- operator remains in control