Monday 22 September 2008

London Rents Suffer after Lehman Collapse

The Financial Times reports that the reprecussions of the collapse of Lehman brothers has been very swiftly felt in London rents, particularly in the City, the area most closely associated with the financial services industry. 

The piece says: "Cluttons, a network of estate agents covering property sales and lettings across London, has already had a number of tenants based in the Belgravia and Wapping areas give notice on their rental properties since the investment house declared itself bankrupt."

This will obviously be a very worrying development for those relying on lettings in the City, and there are plenty of Irish property investors among these. 

You can read the full FT report here

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