trending Market Intelligence /marketintelligence/en/news-insights/trending/wPDiBviD2NWyhTfoxOIizA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: Land Securities, British Land CEOs consider Brexit's impact on London real estate

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Report: Land Securities, British Land CEOs consider Brexit's impact on London real estate

RobertNoel warned that Britain's exitfrom the European Union will lead to a "sustained shock" for realestate demand in the capital, London's FinancialTimes reported.

Hesaid the immediate results would include a "drop-off" in demand inLondon, and a tenants' market will emerge due to decreases in both rents andvalues. Noel added that he is unsure of the impact a potential will have on London'scommercial property market in the long term, according to the report.

CEO ChrisGrigg also expressed concerns regarding an anticipated weak office demand inLondon, particularly in Canary Wharf, in the event of Britain leaving theEuropean Union.

U.K.commercial property investments have slowed considerably since the start of2016 amidst marketuncertainty surrounding the outcome of the June 23 referendum. According toLambert Smith Hampton, investments in central London offices decreased 52% to£2.2 billion in the first quarter from £4.6 billion in the last quarter of2015. The overall drop in U.K. commercial property investments was 27%.

Accordingto figures from Numis Securities, Land Securities and British Land are bothtrading at more than 25% discounts to NAV, the report said.