Boom or Bust? Brexit Makes Property Outlook Hard to Read
- Office landlords need to decide when to embark on new projects
- Uncertain future has made speculative developments more risky
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London’s biggest office landlords face an unprecedented situation: a political fork in the road that could send the real estate market in polar opposite directions.
Developers such as Land Securities Group Plc, British Land Co. and Great Portland Estates Plc bet on the way the market will look years in the future when they green light plans to buy land and build new developments. They are grappling with uncertainty surrounding Brexit through a combination of paring down debt, postponing large-scale developments and squeezing more out of existing projects.