Nicholas Hyett, equity analyst at Hargreaves Lansdown, has predicted that British Land will survive the coronavirus pandemic despite seeing the rents it receives at London sites Broadgate, Regent’s Place and Paddington Central, among others, more than halved last month. He commented: “A shakeout in retail looks increasingly inevitable and that will be painful. Demand for retail space looks set to decline dramatically as a larger portion of sales shifts online. British Land’s higher quality assets may be better positioned to weather the storm than others, but the shift is still likely to mean years of disrupted rental collection and is probably bad news for property valuations.”
Read more: City AM
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