Carry on: The impact of Brexit on commercial property
The UK commercial property market continues to power ahead, and sentiment toward property investment in mainland Europe is improving in the wake of the ECB stimulus measures. Nothing is certain in this world, but in risk appraisals we find that investors are less worried about Grexit (a Greek exit from the European Union) and more about Brexit, where the United Kingdom leaves the EU.
The result of the UK general election made it more, rather than less, likely that there would be a referendum on the issue, and indeed the Queen announced in her speech on 27 May the Government’s plan to enable a referendum for an in-out vote before the end of 2017. The wording of the question has been announced, and although other aspects are still to be decided it would appear that EU negotiations and the referendum will be a major plank of policy. It should be noted that David Cameron has spoken in favour of Britain remaining in a reformed EU. An incumbent government campaigning for