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

Velocity seals Airbus extension worth up to $54m Velocity Composites Has Announced Its Entry Into The Us Market

Velocity seals Airbus extension worth up to $54m

08 Oct 2025

2

First speakers confirmed for Lancashire Business Day Dave Walker with Richard Slater at Lancashire Business Day

First speakers confirmed for Lancashire Business Day

08 Oct 2025

3

Hemmings steps down as PNE chairman as hunt begins for new investors Craig Hemmings

Hemmings steps down as PNE chairman as hunt begins for new investors

08 Oct 2025

4

Chamber calls for three council county Lancashire County Council County Hall

Chamber calls for three council county

08 Oct 2025

5

Victorian Plumbing reports strong financial performance Victorian Plumbing Leyland

Victorian Plumbing reports strong financial performance

07 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

Empowering Franchise Growth in the North West
Empowering Franchise Growth in the North West event
LBV Hub Seminars
09 Oct 2025 - 09 Oct 2025

Empowering Franchise Growth in the North West

Forbes Solicitors, Sceptre Way, Walton Summit Centre, PR5 6AW, PR6 6AW

08:00 - 10:00

Empowering franchise growth in the North West
TFA Event - Empowering Franchise Growth.jpg.jpg
LBV Hub Seminars
09 Oct 2025 - 09 Oct 2025

Empowering franchise growth in the North West

Forbes Solicitors Sceptre Way Walton Summit Centre , Preston, PR5 6AW

08:00 - 10:00

Advantage: AI – A Workshop for Business Leaders – Oct 10th
Ai 10.10.png.png
LBV Hub Seminars
10 Oct 2025 - 10 Oct 2025

Advantage: AI – A Workshop for Business Leaders – Oct 10th

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 12:00

Unlocking major project opportunities in the North West
Lancs-cham-logo.jpg.jpg
LBV Hub Seminars
15 Oct 2025 - 15 Oct 2025

Unlocking major project opportunities in the North West

Strathmore Hotel, Morecambe, LA4 5AP

08:00 - 10:00

The New Employee Rights Landscape: Day One Compliance Essentials
EventBrite NORi - 15th Oct 2025 Webinar.png.png
LBV Hub Webinar
15 Oct 2025 - 15 Oct 2025

The New Employee Rights Landscape: Day One Compliance Essentials

Microsoft Teams, Microsoft Teams, PR253XH

13:30 - 15:00

The Autumn Re set - pour me a wine
LBV Advert_Autumn Reset 1200 x 630px.png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Autumn Re set - pour me a wine

The Artistry House , Preston , PR1 3JJ

17:30 - 19:30

The Business Network Central & East Lancashire
LBV Header (26).png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

October Freelancer Meet-Up
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

October Freelancer Meet-Up

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

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

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