Speaking with a sample of the major developers and investors working on projects across the Thames Valley, development plans remain largely unaffected by the pandemic and the implications of COVID-19.
As we reported last week, many construction firms are now on site beavering away, catching up and, anecdotally, some are even ahead of programme.
UK Property Forums has completed an important piece of research identifying Berkshire’s Most Exciting Schemes (as judged by scale and complexity) and we have come to a similar conclusion – the future is bright for the region. We have listed a pipeline of 20+ projects across all sectors and markets which exceed £1 billion in value.*
But, despite the apparent rays of sunshine across the Thames Valley market, all is not well in the Shires. The Elizabeth Line has not yet opened, Heathrow Airport expansion is in the balance and large occupiers are scarce.
As we collectively peer over the edge of the black hole called recession, we shall be hit by a whole series of unidentified objects.
The similarities with the last recession in 2008/2009 are, in a strange way, comforting when predicting the next business cycle but in reality the post-COVID-19 era will be completely different to anything we have experienced in the past.
In many ways, a lot like the virus.
*Would you like a copy of the Berkshires Most Exciting Schemes? It will be published later in the month, having been sent to our UK Prop Social Members first. Email us at firstname.lastname@example.org
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