Strong London office market confounds Brexit predictions

The BT headquarters in the City of London is not a risk-free investment: with the telecoms provider planning to move out within three years, any buyer will need to refurbish the building and find a new tenant just as the UK is leaving the EU.

Yet when a first round of the auction took place on the 1980s building at 81 Newgate Street last month, more than 10 bidders of varying nationalities submitted offers for the site.

Some were well above the £200m asking price, according to people briefed on the sale. BT and broker Cushman & Wakefield, which is handling the sale of the building, declined to comment.

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