Shares in real estate stocks reacted positively to the Budget Wednesday, as fears that Labour’s tax and spending plans would roil financial markets did not materialise.
The FTSE 350 Real Estate index rose 2% on Wednesday after UK government borrowing costs dropped to some of their lowest levels this year.
Shares in Big Yellow led the charge, rising 4%. That was partly driven by the fact that the sector will not face significantly higher business rates, as had been feared. That could pave the way for a takeover of the company by Blackstone.
British Land shares rose 3.5%, while Great Portland Estates shares rose…