Up to half of planned commercial developments in central London could be delayed over the next few years due to concerns about Brexit, and overall investor returns will be flat in 2016, estate agents Savills said on Tuesday. Commercial property was one of the first sectors to be hit in the immediate aftermath of the June 23… Read More »
Falling commercial real estate prices after the U.K.’s vote to leave the European Union pose a threat to bank stability because of the market’s reliance on foreign capital, Bank of England said. Values have declined 2.6 percent since the referendum and may drop further from their current high levels, according to the central bank’s twice-yearly… Read More »
UK commercial property values inched ahead in October, a closely-watched index showed on Monday, breaking a downward trend since Britain voted to leave the European Union in June. Overall property values for UK commercial assets rose 0.07 percent in October, following gradually decreasing declines between July and September, the IPD real estate index, compiled by MSCI,… Read More »
British landlords were bracing for a drop in commercial property values due to an exodus of tenants after Britain voted to exit the European Union. While property prices fell in sympathy with the glum market sentiment, most occupants stayed put. This translated into bargains for savvy real estate companies looking to buy properties on the cheap… Read More »
Some commercial property buyers are invoking “Brexit clauses” written into contracts agreed before Britain voted to leave the European Union, allowing them to walk away from the deals. In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers… Read More »