Some buyers using 'Brexit clauses' to drop UK commercial property deals


  • World
  • Monday, 11 Jul 2016

Rain clouds pass over the Canary Wharf financial district in London, Britain July 1, 2016. REUTERS/Reinhard Krause/File Photo

LONDON (Reuters) - Some commercial property buyers are invoking "Brexit clauses" written into contracts agreed before Britain voted to leave the European Union, allowing them to walk away from the deals.

In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers and managers.

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