- July 1, 2017: Vol. 29, Number 7

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What’s all this, then? The only certain thing is more uncertainty

by Loretta Clodfelter

In a year of political upsets, the United Kingdom experienced another in early June, with the Conservative Party unexpectedly losing seats in the snap election called by Prime Minister Theresa May, weakening its position as it heads into Brexit negotiations with the European Union.

Once again, the “unthinkable” has occurred, shocking pundits and overturning the conventional wisdom in a pattern that has become the norm in the past year. Commercial real estate investors — in the United Kingdom and around the world — need to get used to expecting the unexpected (see “Upswing with uncertainty”). This can be seen in U.K. property companies’ reactions to the news, which temper surprise with a resolve to make the best of the situation.

“If there is a lesson from our experiences over the last 12 months, it is that U.K. business, including the real estate industry, has become accustomed to uncertainty and managing through it — as evidenced by the many signific

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