See Managing Partner, Philip Gadsden’s views on the year ahead.
I must admit I thought 2020 would be better than 2019. I’m now convinced 2021 will be better than 2020, and surely with the US election behind us, Brexit done and a vaccine (or three) being rolled out, that must be true.
Established trends in our market have been accelerated by Covid. That said, a large majority of our retail spend is still in a physical shop and convenience-led retail works for many retailers. So maybe 2021 will be the year that some retail property bounces back.
Zoom is not a substitute for offi ce-based collaboration, but with working from home now such a valid option, I suspect the best citycentre offi ce locations will be fi ne, but I’m not convinced about secondary centres and offi ce parks. Warehousing space seems highly likely to remain popular – and expensive.
My biggest hope is that Covid has changed our awareness of climate change; lockdown has reminded us what unpolluted skies look like and brought renewed focus to those of us responsible for the built environment. I hope this continues for the sake of future generations.
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Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.