How the commercial property market is shaping up for post-lockdown recovery

As businesses take their first steps towards post-coronavirus recovery, Stratton Creber Commercial (SCC) remains open for business and fully operational as staff continue to work flexibly and remotely to maintain core services for clients.

Our departments have continued to function fully throughout lockdown, including our property management team where staff engaged with landlords and tenants to maintain effective communication and service delivery.

Valuations too continued, albeit in much smaller volume, as have professional services such as landlord and tenant work, rates advice and building consultancy.

While property viewings were suspended during the lockdown period, these have now been reinstated in line with industry guidance from the Royal Institute of Chartered Surveyors (RICS) to ensure the safety of customers and staff.

Despite the challenges of operating within a pandemic, managing director Chris Ryland is pleased to report 15 agency deals over the period, including the sales of two former doctors’ surgeries, Grampound Surgery, near St Austell in Cornwall, and Waterloo Surgery in Stoke, Plymouth. Retail and office lettings were also completed at Glanvilles Mill, Ivybridge.

While activity levels have remained surprisingly high, Ryland expects COVID-19 to leave its mark on the sector.

He says: “As levels of enquiries start to build, we anticipate major changes in the office sector where employers are realising the benefits of remote and flexible working.

“With more businesses adopting the widespread use of technology platforms such as Zoom, Skype and Microsoft Teams to facilitate effective remote working, less office and meeting space is likely to be required in the future and so we are expecting occupiers to focus more on the quality rather than the quantity of accommodation.

“Thankfully we are blessed with high specification office space locally, including at Royal William Yard where we are retained by award-winning developers Urban Splash, plus state-of-the-art development The Merchant in Notte Street, Plymouth, landmark city centre building Princess Court and the well-equipped former Land Registry building, Plumer House, at Crownhill.”

SCC is the most active commercial property agent in Devon and won the county’s ‘Most Active Agent Award’ – for the tenth year running – from EGi, the property industry’s leading journal.