Political Doubts Make UK Property Uninvestible, Sirius CEO Says

Political uncertainty is making it impossible to invest in the UK’s commercial real estate market, according to the boss of FTSE 250 landlord Sirius Real Estate.

“We will not invest a penny in the UK in any meaningful form until June after the May elections,” Andrew Coombs, chief executive officer of UK and German commercial real estate investor Sirius, said in an interview Monday. The UK’s upcoming budget and results at next year’s local elections could raise questions about the leadership of the ruling Labour party, intensifying the risk of a bond market revolt, Coombs said.