The number of enquiries on commercial properties rocketed during the UK’s November lockdown compared with the first four weeks of the initial lockdown in March, suggesting growing confidence from occupiers and investors in buying and letting new space.
Occupiers made 22,959 enquiries on commercial properties during the four weeks from 5 November to 2 December, according to data from EG Propertylink. This compares with 6,052 enquiries between 23 March and 21 April.
The biggest increase in enquiries when comparing the two lockdowns was for retail premises, which rose by more than 360%.
Industrial and logistics premises clocked up the largest number of individual enquiries in both four-week periods, jumping from 2,041 to 7,182. Demand for warehouse space shows no signs of slowing down, buoyed by online spending, post-Brexit logistics capacity anxieties, and potential space for cold storage in preparation for the Covid-19 vaccine.
Both occupiers and investors showed an increase in enquiries during the two periods. Lettings and investment enquiries both leapt in a significant late-year boost to vendors and landlords.
Looking at individual months, a bounce-back in the second half of the year is apparent, and there are indications that momentum will continue as we enter 2021.
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