Our views on the property market now, and post-pandemic

By Trevor Dawson Chartered Surveyors

29 Apr 2020

evjzu3eu4aa1p6p-1024x683.jpg

How the property world will be affected by the lockdown depends how long it lasts. A short lockdown’s impact could soon be forgotten and minimal.

However a longer lockdown will mean business closures and a real impact on the market. If restrictions are relaxed even slightly in the next 2/3 weeks we envisage a positive upsurge. Any longer and there will inevitably be some casualties but the government support has be good for many business. We have never been in a situation like this before.

We are positive going forward as always but especially for industrial where demand has been outstripping supply for some time. Even a drop in demand for a while should not has too much of an affect as supply is still low and this will help to hold values. In reality, it is too early to judge and could take up to 12 months to materialise. However supply would have to increase significantly to get to a tipping point where rental growth will slow.

The prudent levels of speculative development should mean that the market is well prepared to weather the storm on the demand side, assuming we head back towards some level of normality in the second half of the year.

An unintended consequence for the logistics market could be the further growth of online grocery shopping which won’t help the high street but as many consumers, who previously didn’t use such services, become more familiar and continue to use it in the future. Should this happen online retailers will have to add capacity at a faster rate than previously anticipated   We are hopeful that banks will be encouraged to be supportive business with a good track record despite the recent negative press. This is further supported in talks we are having with developer clients who at the moment are still committed to bringing new schemes forward in due course.

The office work environment may change with firms requiring less space as work from home and technology has proved successful to a degree. There may be more homeworking in the future but we should not forget and emphasise the ‘social’ benefits of office working and networking. However offices may be developed with a different type of accommodation layout in the future to include more meeting areas etc. Social distancing may require larger floorplates which may also be the issue going forward with the leisure sector.  

Retail is the main worry for us and will take the longest to recover especially with a new wave of online users. We have seen lease renewals agreed with a one year rent free on a ten year lease which we have not seen since 2008. Break options will become more prevalent with tenants wanting to minimise risk going forward until we get more certainty. The positive news may be for local retailers who in these times have come to the fore and supported local communities with deliveries. Customer loyalty to these operators will hopefully continue and help them to re-open sooner.

We need to stay positive and there are opportunities out there particularly investments where property still provides a good return with the industrial and warehousing sector the most secure.  

Landlords will need to be sympathetic and flexible to keep tenants whilst securing continuity of income and this has included rent deferrals and easier more flexible payment terms   Here at Trevor Dawson we remain optimistic as the underlying economy was getting stronger and there was the real prospect of new schemes coming forward later this year and into 2021. These schemes will still happen but may just be delayed slightly.

 

Latest news

1

McMurrays Haulage expands fleet after contract win Warehouse Supervisor at Pets Choice Brad Eddleston and McMurrays Sales Manager Rob Spencer. Photo credit: McMurrays Haulage Limited

McMurrays Haulage expands fleet after contract win

21 Oct 2025

2

Dragons' Den star to shine on Lancashire Business Day Derry Green

Dragons' Den star to shine on Lancashire Business Day

21 Oct 2025

3

Eden Project Garden at RHS Chelsea Flower Show 2026 marks 25th anniversary Eden Project garden

Eden Project Garden at RHS Chelsea Flower Show 2026 marks 25th anniversary

21 Oct 2025

4

Lancashire farm named 'Family Farming Business of the Year' British Farming Awards

Lancashire farm named 'Family Farming Business of the Year'

20 Oct 2025

5

Breck Homes appoints new managing director Phil Dolan, Breck

Breck Homes appoints new managing director

20 Oct 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

Women scaling up Blackpool Fylde and Wyre
LBV Hub Seminars
22 Oct 2025 - 09 Jan 2026

Women scaling up Blackpool Fylde and Wyre

The Small Business Academy, Blackpool, FY4 5JX

09:30 - 15:30

HR Essentials for pubs, bars and licensed venues
EventBrite NORi - 22nd Oct Webinar.png.png
LBV Hub Webinar
22 Oct 2025 - 22 Oct 2025

HR Essentials for pubs, bars and licensed venues

Online - Teams, Leyland, PR253XH

13:30 - 15:00

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Chamber Business Lunch – October
LBV Hub Networking
24 Oct 2025 - 24 Sep 2025

Chamber Business Lunch – October

Lancaster Golf Club, Lancaster, LA2 0AJ

11:00 - 13:30

Lancaster District Business Support Expo
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
29 Oct 2025 - 29 Oct 2025

Lancaster District Business Support Expo

The Platform, Morecambe, LA4 4DB

10:00 - 15:00

Chamber Breakfast Networking – November
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
06 Nov 2025 - 06 Nov 2025

Chamber Breakfast Networking – November

Porsche Centre South Lakes, Carnforth, LA6 1FW

08:30 - 10:30

Lancashire Police business update with The Police and Crime Commissioner
Lancs-cham-logo.jpg.jpg
LBV Hub Roundtables
10 Nov 2025 - 10 Nov 2025

Lancashire Police business update with The Police and Crime Commissioner

Lancaster Castle, Lancaster, LA1 1YN

14:00 - 16:00

AI, Creativity, and what it means to be human
2.jpg.jpg
LBV Hub Networking
11 Nov 2025 - 11 Nov 2025

AI, Creativity, and what it means to be human

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin