‘Brexit clauses’ used to scrap UK property deals

Some commercial property buyers are invoking “Brexit clauses” written into contracts agreed before Britain voted to leave the EU, allowing them walk away from the deals.

In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers and managers.

A third group is playing for time in the hope the effect of the June 23 referendum result on values becomes clearer, they say.