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Eversheds comment: Property ‘Brexit clauses’ following precedent from Scottish referendum

  • Global
  • United Kingdom

    06-06-2016

    On news that investors are adding Brexit clauses to UK commercial property deals, Bruce Dear, head of London real estate at Eversheds, comments:

    "Before the Scottish independence referendum, buyers put "Scotxit" break clauses into contracts. This meant they could break if Scotland voted out. Buyers are putting the same clauses into UK contracts now. If the UK votes out, buyers want the right to break their contracts. However, as the big Brexit decision day gets closer, many deals are simply pausing to wait for the referendum roulette wheel to stop."

     

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