A chock-full pipeline of office product is posing a larger threat to rent growth and asset values in London, than is the risk of companies leaving following the United Kingdom’s vote to depart the European Union. According to UBS Group AG, oversupply of office space was a problem long before Brexit. According to UBS’ Thomas Wels, the new buildings will come online in 2017 and 2018 “and isn’t priced into rents.”
Office Overload Beats Brexit Effects in the UK