Wednesday 28 September 2016

UK landlords reap Brexit bonus

Published 20/08/2016 | 02:30

The financial district of Canary Wharf, in London. REUTERS/Neil Hall
The financial district of Canary Wharf, in London. REUTERS/Neil Hall

British landlords were bracing for a drop in commercial property values due to an exodus of tenants after Britain voted to exit the European Union. However, while property prices fell in sympathy with the glum market sentiment, most occupants stayed put.

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This translated into bargains for savvy real estate companies looking to buy properties on the cheap and for investors who wanted to increase their stakes in landlords doing so.

UK Commercial Property Trust, which owns property across the UK, was keen on buying office space in South East England, said Will Fulton, a portfolio manager at Standard Life Investments.

Irish Independent

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