New data from EG Propertylink reveals a boom in searches for leisure and retail properties, despite the pressures on these sectors brought about by the coronavirus pandemic.
EG’s figures show that between the first and second lockdown (June to October) enquiries for property in the leisure sector rose by 64%. This was closely followed by retail and office enquiries, which grew by 62% and 56% respectively.
In London’s commuter towns and cities, enquiries for retail space were hot, with Brighton seeing the biggest increase in enquiries. Retail made up some 68% of the total enquiries in November in the East Sussex city, compared with 46% in January. In Reading, that figure was 38% (versus 21% in January) and in St Albans it was 41% (versus 30% in January).
David Salisbury, EG Propertylink group head, said: “Once the initial lockdown measures were eased, we experienced extraordinary levels of interest in commercial property last year.
“With the increasing reliance on online shopping, the demand for distribution centres and warehouses was expected, but the speed with which interest in retail and leisure premises surged was a huge surprise. Searches for space in these sectors and the increased demand for more space away from city centres help to paint a picture of where demand is headed in 2021.”
To find out more about which sectors and which areas are experiencing the highest demand for property, download the EG Propertylink Occupier sentiment report here.
