Director, Nilesh Patel, recently contributed a piece on the impact that Brexit is having on the current Commercial Property Market for leading publication, Estates Gazette.
The 3-year Brexit rollercoaster continues to gather pace – now with Boris driving! But for the UK’s battle-hardened investors, news like this doesn’t cause shockwaves any more. As I suggested in my April article, pushing the Brexit decision back to October would create an interesting 6 month period where buyers and sellers might finally rethink strategy.
Our observation has been that buyers have been particularly busy, especially cash-rich opportunists targeting secondary stock where the market has become rather fragmented. However, at the top end, sellers have remained stubborn, given most are not under any particular pressure to sell and it remains hard to bag a deal. As a results many investors to continue to sit on cash, but not for want of trying.
Amongst our acquisitions in the July auction room were 3 deals which exemplify the types of investment that are actually trading – the low-priced Blue-Chip investment, the South East shop & flat with value-add potential and the high yielding, secondary ‘steal’ – for those in the know only.