In Q1 2020, the outbreak of COVID-19 has caused occupiers to postpone their expansion plans, or even downsize, resulting in negative net absorption and rents edging down accordingly.
We recommend occupiers with relocation plans, especially those less impacted by the epidemic, seek opportunities immediately as the current market environment provides opportunities to secure more favorable terms (rent free periods or other subsidies) than were previously available.
Landlords should proactively pursue industries such as medical & health and New Infrastructure*, using this opportunity to adjust their tenant mix.
Landlords should proactively pursue industries such as medical & health and New Infrastructure*, using this opportunity to adjust their tenant mix.
