Life goes on. That seems to be the message from Hammerson, one of our biggest investors in retail property. The company has done about 20 deals since the referendum vote, actually a bit higher than the average run rate. The deals have been done at above estimated rental value, much the same result as seen over the first six months of the year, when leasings came in at 6 per cent above ERV in the UK and 4 per cent in France.
NewRiver Retail reported something similiar a couple of weeks ago. The concern over the economic impact of Brexit is plainly not weighing heavily on those considering taking out retail space in the regional shopping centres that Hammerson specialises in, no matter what