Brexit nerves cause rents in central London office market to slip
The latest London office bulletin from international real estate agency Cluttons shows that office rents and values in the central London commercial property market have begun to slip as some firms display nervousness in relation to Brexit.
Although many locations have seen headline office rents hold steady for the better part of two years, rent free periods have been moving out to sustain this.
Faisal Durrani, head of research at Cluttons, commented that net effective rents have been declining ever since the Brexit referendum last summer. Cluttons cites the intensification of uncertainty around the outcome of the Brexit talks and the UK seemingly missing out on the rising level of global trade as the main reasons behind the rent slippage.
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