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Buyers snap up UK commercial property

The pound's slump is also attracting more opportunistic overseas buyers from China and S Africa

Published Mon, Oct 17, 2016 · 09:50 PM
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London

COMMERCIAL property auctions are proving an unlikely bright spot in Britain's real estate market where a steep drop in sterling has attracted overseas buyers and local investors undeterred by the potential fallout from Brexit.

Britain's £900 billion (S$1.51 trillion) commercial real estate market was an early victim of the financial market turmoil that followed Britain's vote in June to leave the European Union. Retail investors quickly pulled money out of commercial property funds just after the vote, causing a temporary freeze on £18 billion (S$30.3 billion) in assets.

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