We collect details of actual rents paid from occupiers and landlords, which we break down into a price per square metre.

When we analyse the evidence we look at factors like:

• If there are special terms, such as rent free periods
• If there are some parts of the property that are more or less valuable than others. For example, when we analyse the rents of shops, we look at its retail zones
• If there has been a change in the rental value between the date of the rental agreement and the valuation date.

This gives us a range of prices per square metre for:

• The different types of property in the area.
• The different parts of each type of property in the area.

We then apply the price per square metre to each individual property to set the rateable value.