August 12, 2016 / 4:52 PM / in 2 years

UK commercial property values fall 2.8 percent in July - final IPD index

Centre Point, an iconic post war building in the middle of the capital's commercial district, is clad in scaffolding as it undergoes a makeover, in London, January 26, 2015. REUTERS/Andrew Winning/File Photo

LONDON (Reuters) - UK commercial property values fell 2.8 percent in July according to final figures for the closely-watched IPD real estate index, index compiler MSCI said on Friday.

Central London values fell by about 4.1 percent on the month, MSCI said.

Expectations of a sharper fall in property values led retail investors to flee UK property funds last month after Britain voted to leave the European Union, causing as much as 18 billion pounds in property fund investments to be frozen.

MSCI said the final index results were delayed due to a technical failure.

Reporting by Carolyn Cohn; Editing by Rachel Armstrong and David Evans

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