2020 Review 24 Dec 2020
It has been a strange and difficult year for everyone, where we have all lived through unprecedented times. Thankfully there seems to be light at the end of the tunnel with a vaccine for Covid-19 being rolled out from this month onwards.
As Christmas and the New Year are upon us I wanted to briefly reflect on the past year.
Due to Covid-19 the office market has suffered, since March we have seen a significant drop in enquiries, however the past two months have been encouraging, companies are starting to seek space again. We even let offices in Bourne End within a week of issuing Heads of Terms. I believe the office market will bounce back in 2021 as companies start to reoccupy space and deal with future requirements whether they are up or downsizing.
The warehouse/industrial market in Watford and surrounding areas remains strong, where stock levels are low, especially freehold opportunities.
Encouragingly, the local retail market has not been decimated as we first feared. Independent retailers are taking a long-term view and to open new businesses even through the lockdown periods. We have even dealt with off market lettings where we had to go to best and final offers.
Granted several household names have sadly left Watford High Street and the Intu centre, but we are finding that the High Street is making a comeback through the local community supporting local traders.
Myself and my colleagues at Perry Holt & Co wish everyone a happy, healthy New Year.