The economy is now slowly beginning to emerge from the depths of the lockdown but the legacy of COVID-19 will be lasting scars both on the macro economy in general and the commercial property market.
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A recent audit of the British property industry showed that only 27% of people had a favourable view of the property sector.
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RICS has launched a campaign calling for the real estate industry to do more to preserve the planet for the future.
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Retailers are increasingly seeking rent reductions on shops up for lease renewal as rivals cut rents using CVAs. Does this mean retailers struggle in paying a fair rent in relation to their rivals? Will the retail industry find itself losing out as property investment declines in the long term?
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The demand and need for more space is not limited to consumers or businesses looking to expand their homes or premises – the sector is also becoming increasingly competitive from a commercial real estate investor perspective.
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Business rates payers in England will have bills that more accurately reflect current property values under new legislation.
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