Commercial property hit by election uncertainty

COMMERCIAL property could be slow to rebound unless the government tackles the budget deficit and tax fears, according to a London property consultancy.

Cushman & Wakefield said in its latest business briefing note that deals had been slow in the last month amid uncertainty over the election.

C&W’s head of research David Hutchings said: "The primary investor concern is probably now the approaching election but not perhaps just because of uncertainty as to who may be in power but more due to the fact that necessary decisions are being delayed.

"The sooner we know where the spending axe will fall and what taxes will rise, the sooner occupiers and investors can plan accordingly and get on with securing the recovery for their businesses."