THE BUNDESBANK JUST MADE IT HARDER TO MOVE TO FRANKFURT AFTER BREXIT

GERMANY'S BUNDESBANK HAS JUST MADE LIFE HARDER FOR THE BANKS THAT ARE CONSIDERING FRANKFURT AS THEIR NEW EUROPEAN UNION BASE AFTER BREXIT.

IN ITS REPORT, SAVILLS SAID THERE ARE JUST SIX PRIME OFFICE BUILDINGS IN CENTRAL FRANKFURT WITH MORE THAN 10,000 SQUARE METERS AVAILABLE TO RENT.

The combined annual cost of renting an apartment and the per-employee office space expense amounted to just under 30,000 euros ($33,000) in the German city, about 65 percent less than London.
In its report, Savills said there are just six prime office buildings in central Frankfurt with more than 10,000 square meters available to rent.
Frankfurt's overall office vacancy rate of about 9 percent is higher than most other major German cities.

Follow @Brexit for all the latest news, and sign up to our daily Brexit Bulletin newsletter. Germany’s Bundesbank has just made life harder for the banks that are considering Frankfurt as their new European Union base...

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Article ID: 157263 Date: 12th May, 2017 Social Shares: 575
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