(Bloomberg) -- Demand for offices in Frankfurt and prime rents have climbed to a record as the city emerges as one of the favorites to attract financial firms from London in the run-up to the U.K.'s exit from the European Union, according to lobby group Frankfurt Main Finance.
The city, which the group estimates could win as many as 10,000 workers from Britain's financial-services industry, has started to see larger deals exceeding 10,000 square meters (108,000 square feet) as firms seek to accommodate their expanding operations and personnel, Frankfurt Main Finance said in an emailed statement Wednesday.
Germany's financial capital has emerged as the biggest winner in the fight for the thousands of London-based jobs that are expected to be relocated inside the EU when the U.K. leaves the trading bloc, with Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein last month telling his followers on Twitter about “great meetings” he had there, and saying he would be spending a lot more time in the city.
The inflow into the city could only be limited by a lack of available housing, Andreas Trumpp of Savills Investment Management was cited as saying in the lobby group's statement. Morgan Stanley picked Frankfurt for its new trading headquarters inside the European Union after Brexit, people briefed on the decision said earlier this year.
To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net.
To contact the editors responsible for this story: Neil Callanan at ncallanan@bloomberg.net, Andrew Blackman
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