Green Street Advisors
Are Brexit Job Losses Really Affecting Central London Office Fundamentals?

Are Brexit Job Losses Really Affecting Central London Office Fundamentals?

Based on evidence so far, job losses in central London triggered as a direct result of Brexit are unlikely to surpass 5,000 by the end of 2019, leaving office take-up less affected than initially thought. Moreover, a whole range of retailers and financial institutions alike are acting as a buffer, supporting demand uptake and propelling leasing momentum. With future active demand therefore suspected to remain at a reasonably healthy level and stable development pipelines forecast, we should not expect to see material rental declines or vacancies in the capital despite overstated Brexit concerns.

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