Due to recent political events, such as the Brexit referendum and election, only 1.15million sq ft of speculative development was announced in 2017′, compared to 4.7million sq ft in 2016. This is a substantial drop. “The market is changing, people don’t want to revert back to 2008”; explains Eugene O’Sullivan, Managing Director at Morgan Pryce. “Developers don’t want to take unnecessary risks; the UK market is sensitive and, at this stage, the future seems a little uncertain”.