Finding the way forward - Covid 19 and Construction
The effects of Covid 19 on the Real Estate sector are likely to be wide ranging and long lasting. The trend to online shopping has been accelerated by lockdowns, boosting demand for warehouses. The relative success of the ‘work from home’ experiment means that offices may shrink, or they may grow. One thing is for sure – they will be reconfigured in some way as many of us move to a hybrid, work from home some of the time and come into an office to interact some of the time model. Proposals to change the planning laws are potentially extensive in support of the Build, Build, Build agenda championed by Boris recently. Economically viable re-purposing will come sharply into focus; hotels may become apartment blocks, shopping centres e-commerce fulfilment centres, there might well be a boom in permitted development of roof tops, and those office blocks need reconfiguring. For us in the real estate sector, we must look through the fog of virus talk and work to support those that can see the opportunities arising. - Jez Dyer, Director.