INDUSTRY NEWS

Rics considers commercial property sales warnings

The Royal Institute of Chartered Surveyors (Rics) is considering advising its members to include an ‘abnormal uncertainty’ warning in their valuations, the financial website, thisismoney.co.uk has reported.

It noted the warning has yet to be issued, although Rics said bankers in the commercial property sector have already seen additional clauses added to agreements.

A warning could lead to panic in commercial property markets. A spokesperson for Rics noted: "In uncertain market conditions we would expect to see increased use of this clause to protect the interests of all parties."
Buyers are attracted to commercial property in London as it has retained its central position in finance and insurance sectors.

New media companies have also established themselves in the capital, no more so than in Soho, which remains a popular choice for companies moving to new offices in London.

ADNFCR-1329-ID-18651856-ADNFCR

Leave a Reply

Your email address will not be published.