Office rates in Leicester run from £150 per square metreThe value per square metre used to build up a property's Rateable Value. Comparing your £/m² rate to similar nearby properties is the main way to check whether your RV looks too high. on Oswin Road down to £65 on Brunswick Street, against a city median of £90. The median office is assessed at £8,400, below the £12,000 threshold at which Small Business Rate Relief covers the whole bill — so 65.6% of offices here pay no business rates at all.
How an office is valued
Offices are valued on floor area, not on frontage. The Valuation OfficeThe government body that sets every property's Rateable Value. From April 2026 the VOA is part of HMRC (see below), but 'VOA' is still the common name for the valuation side of the work. measures the net internal area — the usable space inside, excluding lifts, stairs, plant rooms and structural walls — and applies a rate per square metre for that building and that location. Car parking, stores and any air conditioning are added or adjusted on top.
This is the opposite of how a shop is valued. A shop's worth hangs off the first 6.1 metres behind the window and halves as you go back, so two identical floor areas can differ by a fifth on shape alone. An office of a given size is worth what the rate says it is worth, which makes the rate itself the thing to check.
Top office locations in Leicester
A pitch here is a street within one postcode district, because that is closer to how the rate is actually set than a street name is. Leicester has 42 pitches carrying ten or more offices, covering 959 of its 1,725 office assessments.
| Pitch | Offices | Median RV | £/m² NIA | Range | Below £12,000 |
|---|---|---|---|---|---|
| New Walk (LE1) | 75 | £9,800 | £105 | £60–£131 | 53% |
| London Road (LE2) | 70 | £7,950 | £120 | £75–£500 | 69% |
| Pioneer Park (LE4) | 64 | £5,200 | £130 | £100–£150 | 86% |
| Charles Street (LE1) | 58 | £9,550 | £80 | £45–£400 | 60% |
| High View Close (LE4) | 41 | £12,250 | £110 | £75–£110 | 49% |
| Regent Road (LE1) | 36 | £15,750 | £95 | £60–£175 | 42% |
| Humberstone Road (LE5) | 27 | £2,750 | £105 | £45–£120 | 89% |
| Granby Street (LE1) | 26 | £3,475 | £90 | £75–£300 | 92% |
| De Montfort Street (LE1) | 26 | £13,500 | £94 | £66–£175 | 35% |
| Humberstone Gate (LE1) | 25 | £5,700 | £90 | £43–£140 | 64% |
| Oswin Road (LE3) | 22 | £4,775 | £150 | £125–£150 | 73% |
| Ross Walk (LE4) | 21 | £7,500 | £140 | £85–£150 | 95% |
| Bath Lane (LE3) | 21 | £9,000 | £90 | £53–£100 | 62% |
| King Street (LE1) | 21 | £9,000 | £95 | £75–£140 | 71% |
| Boston Road (LE4) | 20 | £2,950 | £120 | £90–£120 | 100% |
| Belgrave Gate (LE1) | 20 | £6,875 | £88 | £40–£90 | 60% |
| Halford Street (LE1) | 19 | £6,600 | £80 | £45–£85 | 63% |
| Horsefair Street (LE1) | 19 | £15,000 | £80 | £65–£120 | 42% |
| Loughborough Road (LE4) | 19 | £9,200 | £85 | £70–£120 | 74% |
| Millstone Lane (LE1) | 18 | £7,750 | £113 | £65–£120 | 67% |
Want to know how your own office compares with the rest of its street? Look up any Leicester property — it is instant, it is free, and it shows the comparable evidence the Valuation Office holds. For more pitch and market data, get in touch via the feedback form.
The same street, different rate
A rate per square metre reflects the building as much as the street: age, floorplate, lift provision, whether it has been refurbished. Charles Street in LE1 carries 58 offices assessed between £45 and £400 per square metre — a 8.9-fold range on one pitch. A tired floor in an older building sitting near the top of that range is worth questioning.
Each bar spans the lowest and highest Zone A rate recorded on that pitch. Shared scale, running to £500 per m².
Why an office assessment goes wrong
The area is measured wrong
Net internal area excludes lifts, stairs, plant and structural walls. Where those have been counted in, or where a floor has been sub-divided since the survey, the area on the valuation is larger than the space you actually occupy.
Check the recorded area against a current measured survey.
The rate belongs to a better building
New Walk carries 75 offices on a single median rate. A rate set by refurbished space applied to an unimproved floor above a shop is the commonest error in this sector.
Compare your rate with the rest of your pitch before anything else.
Quality adjustments are missing
No lift above two floors, no air conditioning, poor natural light, awkward floorplates — all of these attract an allowance, and all of them are easy for a mass valuation to miss.
List what the building lacks, not only what it has.
Space is empty or unusable
Offices left empty attract empty property relief for a period, and space that cannot be occupied at all may come out of the assessment entirely. Neither happens automatically.
Tell the council about empty space; tell the VOA about unusable space.
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General information, not financial or legal advice. Independent service — not endorsed by the VOA or HMRC. Official rateable values and formal decisions come only from the VOA/HMRC. England and Wales.