The logistics and industrial sector is set to be affected by higher rates bills in 2021, while the beleaguered retail industry could benefit from a dramatic reduction.
Rateable values among logistics and industrial firms are expected to rise by 17.2% across England and Wales for 2021/22, according to the latest research from Avison Young.
Consequently, the rates liability of the sector is predicted to increase by 12.1% (£876m) on the previous year.
The new business rates revaluation will begin on 1 April 2021. After that, revaluations will take place every three years, rather than every five.