The COVID-19 pandemic has derailed the entirety of the world’s economy. Quarantines, stay-at-home orders, social distancing, and shuttering of all but the most essential businesses to “flatten the curve” has taken its toll as governments across the globe battle the rise of the novel coronavirus pandemic. Commercial real estate is thriving.
Yet there is some good news in an otherwise bleak landscape: commercial real estate activity is thriving, during one of the most uncertain times we’ve ever faced in living history. How and why is this happening? It may seem counterintuitive and perhaps even impossible, but the truth is deceptively simple: with enough thought and hard work, we can adapt to just about anything.
As we enter the new normal of post-COVID 19, it’s clear that “business as usual” is simply no longer possible. The old ways of doing things, many of which led to the rapid spread of the virus, are simply no longer tenable both in the short run while we attempt to keep the spread of the coronavirus under control and also in to prevent such outbreaks from having such a strong negative impact in the future.
The Changing Real Estate Landscape
With retail and office tenancies re-opening now after a long, gloomy lockdown, it’s the perfect time to position yourself in a commercial property that can better weather the effects of a COVID-like pandemic.
What does this mean when it comes to commercial property for sale or commercial real estate for lease? It’s increasingly likely that as old leases expire, businesses may seek to relocate to properties that can help a company stay open in a pandemic.
Architectural elements that provide better ventilation, layouts that make social distancing easier, entrances that enable staff to conduct temperature checks on customers and staff as they enter the building, and similar precautions can all help prepare for a COVID-like reoccurrence.
It’s Time For Commercial Real Estate to Be Part of the Solution
There’s no way around it: the novel coronavirus has caused loads of financial pain and hardship. It goes further than just tenants being unable to pay landlords due to lost revenue from being furloughed from work; many landlords rely on that income to pay their own mortgages or expenses.
Despite attempts to pit one group against the other, an attitude of shared pain between landlords and tenants has done wonders in fostering good post-COVID-19 solutions, leading to a call for mutually beneficial approaches to help us all recover from the financial stress the coronavirus outbreak has caused.
This also has the added benefit in helping to prepare the much-needed infrastructure for the next economic emergency situation that it’s almost inevitable that we’ll be facing as an increasingly-globalized society as time goes on.
Prepare for the Future with C Property QLD
With the retail sector being one of the hardest hit by the pandemic, the reopening of some key brands now as the threat shows signs of diminishing is good news indeed — but these brands most certainly need the support, in the form of a coalition of tenants and landlords working together, to prepare for whatever other unforeseen emergencies may be looming on the horizon!
Worried about the lasting impact of the novel coronavirus on your commercial property? Looking for alternatives that are more conducive to surviving and even thriving in the post-COVID landscape?
Turn to C Property QLD today for a commercial real estate agency that knows what it takes to prepare for the future!