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FLOORSPACE AND RATEABLE VALUE FOR COMMERCIAL AND INDUSTRIAL PROPERTIES 2000

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There were 569 million square metres of floorspace in England and ...
There were 569 million square metres of floorspace in England and

Wales in 2000, of which 18 per cent were in retail premises, 16 per

cent in offices, 41 per cent in factories and 25 per cent in

warehouses (Table 1).

These are some of the results from the publication of Commercial and

Industrial Floorspace and Rateable Value Statistics 2000. The figures

are the result of a major collaboration between the DTLR, the Valuation

Office Agency (VOA) and University College London (UCL) to improve

the quality of floorspace statistics. It is proposed to update the

statistics on an annual basis.

Summary

The average rateable value of all premises was£54 per sq. m in 2000.

This ranged from£25 per sq. m for the average factory to£109 per

sq m for the average office. Retail premises accounted for

marginally more total floorspace but had many more hereditaments than

offices, suggesting offices in general contained more floorspace than

retail outlets.

Retail premises

There were 105 million sq. m of retail floorspace in 2000 in England

and Wales, 29 per cent of which were in London and the South East.

Regionally, the average rateable value of retail premises ranged from

£73 per sq. m in the North East to£150 in London.

Offices

There were 91 million sq. m of office floorspace, 29 per cent of

which were in London compared to just 4 per cent in the North East.

Regionally, the average rateable value of offices ranged from£55 per

sq. m in the North East to£183 in London.

Factories and warehouses

There were 233 and 140 million sq. m of factory and warehouse

floorspace respectively in England and Wales. 16 per cent of the

factory floorspace was situated in the North West and Merseyside

compared with 6 per cent in London. Regionally, the average rateable

value of factories ranged from£18 per sq. m in the North East to #42

in London.

Premises with accommodation

The total number of hereditaments of premises with accommodation

totalled 112,000, 81 per cent of which were retail premises. The

total floorspace was 13 million sq. m, over half of which were retail

premises.

Table 1 Bulk classes of non-domestic premises in England and Wales,

2000

Number of Floorspace Rateable value Average rateable

hereditaments (000s sq.m) (£000s) value (£/sq. m)

Retail premises 573,533 105,094 10,583,368 101

Offices 303,393 90,855 9,919,832 109

Factories 266,068 233,266 5,762,242 25

Warehouses 197,786 139,694 4,402,712 32

TOTAL 1,340,780 568,909 30,668,154 54

Notes

1. The statistics are the first since 1995. However due to data

quality problems with the 1995 set, meaningful comparison between

1995 and 2000 cannot be made.

2. The Floorspace statistics and rateable value for non-domestic

properties in England and Wales are compiled for regions, counties

and districts as of 1 October 2000. In addition to improving the

quality of floorspace data, information on rateable value and

rateable value per square metre are also provided in this report for

the first time. This information comes from administrative databases

used by the VOA in the process of assessing the value on non-domestic

property in England and Wales.

3. Commercial and Industrial Floorspace and Rateable Value Statistics

2000 is published by TSO, price£45. The report is available from:

DTLR Publications Sales Centre

Cambertown House

Goldthorpe Road

Rotherham

South Yorkshire S63 9BL

Tel: 01709 891318 Fax: 01709 881673

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