Gloom and doom or boom?

23 January 2019 | Applicable law: England and Wales

Leave or remain? Brexit uncertainty grows by the day, with the ever-increasing possibility that the UK may remain in the EU…

Meanwhile, there are mixed messages coming from the real estate market. Or should we say 'markets'? For, while the retail and shopping centre market is in the doldrums, and the prime residential market is becalmed, the commercial real estate market in central London continues is cruising along at rate of knots.

Leading agency, CBRE reports increased take up of office space in the last quarter of 2018. Office demand for the whole of 2018 was up on both 2016 and 2017. There is also a record deals pipeline as 2019 gets under way. Much of the increased demand was down to flexible working space operators and the creative and tech industries.

So, far from it being a picture of 'gloom and doom', there are signs of 'boom'. Of course, there remain uncertainties as to post-Brexit (if it happens) demand, but for the time being more money is being invested in real estate in London than in any other city in the World.

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