I woke up on Friday 24th June pretty depressed. I was sad we’d lose out on free movement of EU labour – a pool of creative, optimistic people who have added so much energy to London. I was also hoping my children would go to university in Paris or Rome, rather than some cold English campus…
One thing seems clear now: the London office market has turned in favour of tenants. #brexit
It will take a while to see through the post-referendum haze, but one thing seems pretty clear right now: the central London office market has turned in favour of tenants. Here are my 6 early Brexit predictions:
6 Brexit predictions
- More office space will become available for rent. We have just seen that EasyJet is in talks to relocate its legal HQ to mainland Europe. This will not be an isolated event.
- Unless tenants really need to move, they will stay put.
- Rents in a number of central London office locations will stop rising and are likely to fall.
- We will be able to help tenants – with traditional leased space – negotiate better deals.
- Tenants with rent reviews on the horizon will feel Christmas has come early! But it will still take a lot of expertise to negotiate more favourable settlements.
- In uncertain times, there will be an increased appetite for flexible term serviced offices.
In uncertain times, there will be an increased appetite for flexible term serviced offices. #brexit
Reasons to be cheerful?
Everyone will have their own view about Brexit, but I’m certain that the coming months will be scary and interesting in equal measure, both politically and economically.
Professionally however, we are pretty excited about the foreseeable future because we work for tenants. Current tumultuous market conditions will help us find great offices & negotiate better deals for our clients.
If you need help finding new office space, please just tell us what you looking for.