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7/27/17

Britain - Brexit: Demand to rent UK commercial property falls to 5-year low

Demand to rent British commercial property levelled off for the first time in almost five years during the past three months, as online shopping hurt high-street retailers and Brexit and election worries unsettled other potential tenants.

The Royal Institution of Chartered Surveyors said on Thursday that its gauge of commercial tenants’ demand for property fell to -2 for the second quarter of 2017, its lowest reading since the third quarter of 2012.

“The commercial property market has enjoyed a good run and it is hardly surprising that we are now seeing a flatter trend emerge … which chimes both with recent economic newsflow and the political environment,” RICS’s chief economist Simon Rubinsohn said.

Read more: Demand to rent UK commercial property falls to 5-year low – EURACTIV.com

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