Insured Against Brexit?
acting for owner, investor or occupier the current question on all client lips
is “how’s Brexit affecting the office market?”.
still such early days into the proposed divorce from the EU after the long 43
year association. Concrete evidence is in short supply. Certainly we’ve seen
evidence of Brexit “chips” on a few lettings (some opportunistic). Some key
transactions (such as Wells Fargo’s proposed urchase of 33 Central for its own
occupation ) will be a good bellwether. Investment volumes will be well down
(but from some very high watermarks). Occupiers may well find warmer overtures
from landlords but with low supply levels (the City vacancy rate is a mere 4%
against a historical average around 8% ) we predict only modest rental
reductions but with enhanced inducements in the core financial and insurance
sentiment uncertain the only certainty is that we will hear concerns from some
clients but others looking at the emerging opportunities.
the welter of media coverage and analysis the Insurance Insider has published one of the more sober and insightful pieces on the impacts on the London
insurance market both positive and negative.
discuss those threats or opportunities please contact David Alcock or Chris Sutcliffe.
View All Articles