More global firms will set up offices in London this year despite uncertainty following the Brexit vote, property consultancy CBRE predicts.
“We are working for some big corporates who are actively looking for more space in London so I’m sure there will be significant deals that will come during the course of the year,” EMEA's boss Martin Samworth told City A.M.
CBRE advised Wells Fargo on its £300m deal to snap up an 11-storey office development in the City in July last year, just days after the Brexit vote.
“In the third quarter last year, there was a lot of nervousness about what was going to happen following the Brexit vote. By the fourth quarter, confidence returned following big corporates setting up their offices in London. That momentum continued into 2017 and we expect it to remain strong for the rest of the year,” he said.
Samworth added that he expects London to be top on the list for global tech firms looking to expand abroad.
“Some quite significant tech firms like Apple and Google announced plans for a London base last year. It’s an illustration of how big companies see London and the opportunities that exist in the city,” Samworth added.
Read our full interview with Martin Samworth in Monday's City A.M.