Miles Gibson, Head of UK Research at global real estate consultants CBRE said:
“The Chancellor’s warning comes in the light of CBRE research showing that 73% of investors in commercial real estate feel the UK’s attractiveness as an investment destination would be damaged by an exit from the EU. Only 7% of investors feel ‘Brexit’ would improve the UK’s attractiveness. There was just over £14bn of investment into UK commercial property in the first 3 months of 2016, 21% down on the same period in 2015.
“Early indications are that retail investment is down by around 30% on a year ago, possibly because investors are concerned about the consumer spending outlook in a “Leave” world. While there are a wide range of factors affecting investment levels, including global economic conditions, these figures show that investors are unsettled by the uncertainty generated by the Brexit debate.”