Brexit vote 'will lead to slump in UK office market'

Reports that the UK's Brexit vote will lead to 'a slump in office construction, with up to half of planned developments in central London likely to be postponed or scrapped in coming years' feature in today's newspaper round-up.

In its annual forecasts, estate agency Savills said that commercial development "has barely recovered from the post-financial crisis slump, and the uncertainty surrounding the terms of Britain’s departure from the EU will trigger another 30 per cent to 40 per cent decline across the country in the next five years", the Guardian reports.

Forty per cent of councils do not have a local plan in place, "mostly because of legal objections from developers", Times (subscription required) columnist Alice Thomson says. She writes: "If there are no plans, developers can seek planning permission where they want. The system is chaotic."

A descendant of William Wordsworth "is campaigning to prevent giant pylons from blighting the magnificent Lake District views that inspired the romantic poet", the Times (subscription required) reports. The newspaper says that Christopher Wordsworth, "the poet’s great-great-great-great-grandson, has urged National Grid to abandon plans to install pylons as close as six metres from the boundary of the Lake District National Park".

Piccadilly Circus’s "iconic billboards will be switched off for modernisation for the longest period of time since the Blitz", London’s Evening Standard reports. The newspaper says that "the switch-off is part of a plan to remove the six illuminated advertising boards which overlook the tourist hotspot and replace them with one ultra-high definition curved screen".


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