MIPIM 2016: Short-term uncertainty caused by Brexit is slowing the investment market but doing little to deter occupiers, according to British Property Federation vice-president David Sleath.
Speaking after the BPF’s UK breakfast at MIPIM, the SEGRO chief executive said there was a mood of “cautious optimism” among UK delegates but many conversations were dominated by the “favourite topic of Brexit”.
He said: “There is a bit of an air of ‘we have got a big event coming up in three months’ time and if you don’t have to buy or you don’t have to sell in that time why take the risk?'”
“We are all seeing a bit of caution in the investor market ahead of that event.”
But he said “short-term uncertainty” around Brexit was not affecting long-term occupational decisions.
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