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With the exception of foodstores, the investment market effectively ground to a halt over Q2 as non-essential retail was put under enforced closure.
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Retail investment totalled £0.58bn in Q2, two-thirds of which was accounted for by supermarkets. H1 2020 volumes came in at £1.5bn, down 40% YoY.
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Investment activity is expected to pick up from Q4 onwards, driven by distressed sales and repositioning opportunities.
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Good quality assets in the right locations that offer flexibility or potential for mixed-use are likely to be the primary target for investors.
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Retail warehousing is more defensible against the rise of online, better placed to offer social distancing, and prime pricing looks attractive.