This report analyses the potential impact of the Covid-19 virus, on the UK economy and its subsequent effect on UK commercial real estate. This study discusses the contributing factors, which consist of Information Technology, Human Resources and Real Estate, with a focus on the importance of transport hubs, and their effect on supply and demand for buildings, with regards to desirability.
My study was undertaken in April 2020, with the aim of anticipating and predicting the future implications of Covid-19 on Real Estate. My findings look to reveal how changes in macroeconomic growth of the UK will also influence desirability and development in both the short, medium and long term.
My research suggested that human nature desires interaction, for it is only by being collaborative that true creativity is unleashed. This suggests that there will always be a need for group working, within a given space; there will always be a demand for commercial real estate, provided it is easily accessible and tailored to ensure employees feel comfortable within their working environment.
This pandemic is current and the policies surrounding it remain a work in progress. It has therefore been challenging to find factual evidence, reports or data. My study remains hypothetical as only time will show the true extent of the effects of Covid-19 on UK commercial real estate economics and the factors affecting supply and demand with a focus on buildings close to transport hubs.
Photography by Bryan Gomes.