The celebrated London venue, that has hosted acts like The Rolling Stones and the Sex Pistols, will receive the rate relief from 1 April 2020.
The reduction will save the venue more than £70,000 per year in overheads and follows a long-term campaign to keep the venue on Oxford Street.
The move coincides with a business rates cut for grassroots venues across the country and is part of a move by Westminster City Council to protect venues in Soho.
It also comes as Independent Venue Week – a 7-day celebration of music venues around the country – is in full flow.
The criteria for he rate relief is that their primary purpose must be as a grassroots music venue and the organisation occupying the property must be not for profit.
Jeff Horton, owner of The 100 Club, says: ‘I’m thrilled the 100 Club has been granted this new business rates relief. It means we can continue to support the careers of the hundreds of artists who take to our stage each year.
‘This is a game-changing approach from a local authority in supporting grassroots music venues. I’m grateful to Westminster Council and for the continued support of the Mayor of London and the Night Czar. I hope that other local authorities will adopt a similar forward-thinking approach to support the music industry.’
Amy Lamé, London’s Night Czar, adds: ‘The 100 Club is an important part of London’s music history, providing a stage for up-and-coming and world- renowned acts for more than 75 years.
‘Grassroots music venues play a key role in London’s thriving nightlife and that is why we’ve worked closely with The 100 Club and Westminster City Council to secure its future. This is the first time that special status has been awarded to a grassroots music venue and it is a great example of what can be done to support venues in our city.
‘I urge other local authorities to work with us to support venues in their boroughs and help boost London’s vibrant nightlife.’