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Brexit Banks Risk Finding No Offices If Quitting City for EU

  • Few buildings have contiguous space for 2,000-plus employees
  • Banks ponder moving London staff to Frankfurt, Paris, Dublin
Bloomberg business news

Carney: Financial System 'Sailed Through' Brexit Vote

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Banks planning to move staff out of London after Brexit face a stark reality: There isn’t much prime real estate up for grabs in rival cities.

With vacancy rates for prime space in the business districts of Paris, Frankfurt and Amsterdam at the lowest levels in a decade, there are only a handful of empty and appropriate office buildings in those cities capable of housing the thousands of employees that banks might need to relocate, according to data from property broker Savills Plc. In Dublin, there are currently no buildings big enough.