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28 August 2018

Brexit Aftershock Continues

Posted by: David Marlor

Legal battles are raging over the constitutional procedure for enacting Article 50. Trouble across the pond hints at a less special relationship with our American cousins. The pound remains sluggish. Parliament continues to squabble about whether the Prime Minister should give us a summary of her negotiating tactics.Hard Brexit? Soft Brexit? Brexit sunny-side-up? The permutations of the Brexit discussions seem infinite at the moment. And if there is one thing investors do not like, it is uncertainty. I wrote last week about the continued rise of Chinese investment in Manchester which may be filling the gap left by European funding. It appears that Chinese money may not be enough to plug the hole that will also be left by reduced rents and cautious banks. We continued to wait with baited breath which, recently, is something I am becoming quite practiced in…

There is a chance London could lose its status as a global financial capital, which would affect the market materially further, and much depends on whether the UK is able to maintain trade with the rest of Europe without sanction.
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David Marlor

Managing Partner and Head of Property

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