‘No evidence of Brexit slow down’

13th July 2016

‘No evidence of Brexit slow down’ according to Yorkshire property group.

Despite ongoing negative headlines and market jitters, a Yorkshire property group is reporting no apparent slowdown in sales and enquiries two weeks after the UK’s shock referendum result.

In contradiction to national media speculation, Leeds-based Prospect Property Group (PPG) comprising regional Independent housebuilder, Loxley Homes; commercial developer Workpods and serviced office provider, Prospect Business Centres (PBC) – has experienced no material impact from Britain’s impending withdrawal from the EU.

“The fact is that we are seeing unchanged levels of demand on the serviced office centres, our growth path for that business is unchanged and the enquiries in London and Leeds are at record levels.  We have 3,000 desks in the capital at present in five properties but will add another 1,500 by the end of 2016, and we are proceeding on two more properties that are in legals,“ said Prospect Property Group chairman Warren Hill.

“We have seen an increase in reservations taken on our new office development at Robinhood Airport and our latest development of homes in Hunsingore, North Yorkshire, has seen record levels of interest and reservations, even since the vote.  It’s simply not translating into the market conditions that the headlines seem to be suggesting, and from talking to people in other property businesses, we’re not alone.“

Mr Hill added: “It is possible that London and the South East will see a cooling off, in residential in particular, but arguably that was on the cards anyway. There is a chance that Brexit could help level the playing field a little, and lessen the north-south divide too.

“The uncertainty isn’t welcome, but I think it is important that businesses report the real impact, if there is any, at the coal face of the economy.  As far as we see it, its business as usual away from the tabloid headlines, and there are already businesses taking advantage of the shifting conditions to ensure they mitigate the impact of the next steps of the exit,“ he concluded.    

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