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Kirsty told the publication:“If there is a move away from offices, we will no doubt also see a significant impact on business such as cafes and restaurants in city centres, whose trade largely depends on the office workers that visit them. We know that the retail and hospitality sector has seen a massive decline in trade, and the demand for weaker retail premises is low, with many tenants struggling to pay the rent and looking for ways to exit their lease.”
She added: "From an investing point of view, investors will need to assess their portfolios to ensure that they have a resilient mix of assets to protect against any long-term effects, but the commercial property market will see a recovery from the impacts of Covid-19 once ‘new norms’ in our lifestyles has been established."
You can read the full article from AdviserPointOfView.com here.
September 16, 2020
Kirsty is a Solicitor and Partner and Heads the Commercial Property department.