Following the bank’s prediction in July 2016 that exchange rates movement would soften the impact of price falls resulting from Brexit, research analysts have asserted that this prediction has been largely borne out by current market conditions.
Much investment activity has been reported in recent months, including the £1.15 billion purchase of the Leadenhall Building, EC3 by CC Land, with overseas investors taking advantage of favourable exchange rates.
The City development pipeline will also provide a great deal of high quality space, much of which will be pre-let and will replace older, obsolete buildings. As such, the report expects that this influx of new space will not have a dampening effect on rental levels in the City of London office space market.
