Brexit Britain victory as German property giant opens London offices
Netherlands cashing in on Brexit UK business flocks to EU
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Describing London as one of Europe’s most important real estate markets, the company said it sees the capital as an important gateway for international investors to reach European markets. It hopes the new London base will provide greater access to the rest of the world as it seeks to expand its international business. In a statement, Coros said: “Despite Brexit, the city remains one of the continent’s most important real estate markets with exciting real estate projects and continues to be a trend and pacesetter for in the real estate industry. With our new presence, we are right at the pulse of new ideas, from which will benefit not only our projects in London locally, but also in the German market.”
Coros already has offices in Berlin and Luxembourg with headquarters in Munich.
The company describes its activities as focused on the development of office properties and mixed-use developments.
It has so far been involved in projects across major cities in Germany and France.
However it aims for London to become one of its core markets over the next decade as well as being an important potential source of new talent.
The group also predicts London will “set the pace for products” in sustainability across Europe.
The new office will be located on Kingly street in a 1,600 square foot location including a roof terrace.
In other moves today Swedish venture capital firm Creandum has also announced it will open an office in London.
The fund was an early investor in familiar brands such as Spotify and Klarna and described the UK as one of its core markets.
The moves come following an announcement from Shell that it is planning to relocate its headquarters from the Netherlands to the UK.
The oil giant also plans to drop the ‘Royal Dutch’ part of its title as part of a wider restructure.
Shell is currently in talks with its shareholders in the run-up to its AGM on the 10th December when the decision will be put to a vote.
It joins Unilever as another Anglo-Dutch company to opt for a single base in the UK.
There have been some shifts out of the capital though with Ryanair this month leaving the London Stock Exchange.
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The low-cost airline has fallen victim to EU rules on foreign ownership meaning over 51 percent of its shareholders had to be in EU member states.
As a result Ryanair has had to encourage non-EU shareholders to sell up and restrict their voting rights to comply meaning a London listing was no longer financially sustainable.
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