Posted Tuesday 22nd December 2020
Construction projects have inevitably experienced delays throughout 2020 but there are some major developments due to kick on next year. Take a look at the 10 projects worth keeping your eye on throughout 2021.
The government announced an extension to the eviction ban on retailers and other businesses hit by the coronavirus. The extension will finish at the end of March 2021 and has been announced as the ‘final extension’ to the ban.
This year has been difficult for investors and landlords but some have been hit worse than others. It’s no secret that retail and leisure have suffered the highest shortfalls in rent while logistics landlords have benefitted from the rise in ecommerce.
According to research, 2020 has seen a higher number of retail – resi conversion applications turned down. The difficulties facing the high-street has resulted in more applications for converting the use of buildings that no longer serve their intended purpose. Interestingly, the percentage of these applications being rejected has increased.
Shaftesbury, the real estate investment trust, has reported a loss of £699.5m. The value of the retail and hospitality properties owned by the trust dropped significantly this year due to the pandemic.
According to Colliers, the UK property market will benefit from a rapid recovery in investor confidence next year. As investors look for ‘long term, defensive assets’ Colliers expect the sector to bounce back and reach £60bn.
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.