LONDON (Alliance News) - Commercial property investor Land Securities Group PLC on Thursday said it anticipates uncertainty in the business world will persist until some clarity emerges on a post-Brexit UK.
Robert Noel, the chief executive of the FTSE 100 constituent, speaking ahead of Land Securities' annual general meeting, said that until clarity is provided on the timing and terms of the UK's exit from the European Union, uncertainty will persist.
He added he anticipates this could "take some time".
"Demand from occupiers is likely to be subdued until confidence returns, and this may have an impact on rental values," he said.
Noel said the property group remains confident on its position amid the uncertainty. "Land Securities' portfolio of quality office properties and retail destinations, together with our very low leverage, high levels of occupancy and long lease terms by historical standards, put us in an excellent position," he said.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Land Securities (LAND)