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Working From Home - Impacts of Coronavirus
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nctnico:

--- Quote from: bd139 on July 16, 2020, 01:54:05 pm ---Don't confuse commercial property with retail property. Totally different markets. The latter is a shit show and always has been. The last 6 months have really killed it dead though. Commercial property is very different and still in massive demand.

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I wouldn't be so sure about that either. Recently I spoke someone who works at a big bank. When I asked how long she had to work from home her answer was 'indefinitely'. She wasn't laid off but the bank has seen the positive sides of working from home and is now downsizing the amount of office space.
bd139:
Yeah that's the same here but they tend to convert offices into housing here. Retail is slightly different. A lot of the retail outlets are mixed purpose and leasehold here which means changing purpose is harder and most of the buildings aren't built to fire regulations required for housing.

We're probably only going to have skeleton office after this too and lease the rest of the building out.
nctnico:

--- Quote from: coppice on July 16, 2020, 02:40:01 pm ---
--- Quote from: nctnico on July 16, 2020, 01:41:52 pm ---But in the end you'll need tenants. Over here online shopping is killing retail and the Corona crisis has accellerated that. Many older people who used to go to shops are now shopping online and it remains to be seen whether they will be going back to the shops now they found out about online shopping (which usually has a much much wider choice compared to a shop).

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In the 80s every new supermarket in the UK was huge, and it usually caused 2 or 3 smaller supermarkets in the area to close. My uncle fitted out point of sale systems in those places, and it seemed every time I saw him they had just done another store with more checkouts than anything before it. Now the big supermarket chains all operate a network of mini-supermarkets alongside their massive ones. A lot of retail patterns are fashion based and go around in circles. Right now there are still enough shops to go an see a product before buying it on line. When enough shops have been killed, maybe people will see greater value in stores again.

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The problem is that shops don't have a wide variety; they mostly carry generic stuff. I basically stopped visiting shops because I left empty handed too many times. When I buy clothes I usually start with a selection of 5000 to 7000 items (shirts for example). That gets reduced to a short list of 20 from which I order 6 and keep 2 or 3.
nctnico:

--- Quote from: EEVblog on July 16, 2020, 06:20:06 am ---
--- Quote from: Zero999 on July 14, 2020, 05:46:31 pm ---We have a housing shortage, so why not convert those empty shops to homes?
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Because someone owns those shops, it's commercial property, it does not belong to the government.
That's like saying my old lab that I own is currently vacant, so the government can just come and take it and give it to someone. Err, nope.

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No, but the government can invent a tax for empty offices which then makes the choice for the owner to convert it to homes 'easier'.
themadhippy:
The holiday homes i meen are those that get used for a long weekend between trips to the skiing chalet and taking the yacht down to the monaco, that are exempt from council tax and sit empty for most of the year.As for converting town center property into housing,fine,but dont start complaining  when the long established  town center business is keeping you awake at midnight.
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