Rents in the West End and the City of London are set to soar when business rates are reset next year, with some West End rate bills set to double, putting pressure on the commercial property industry, which is currently projecting negative rental growth over the next four years.

Rates are recalculated every five years, based on historic rent levels. Rate revaluations, which were available on the web site of the Valuation Office Agency from yesterday, are based on rent paid on April 1 2008. They come into force on April 1 2010.