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Second Covid-19 wave could be ‘knockout punch’ for UK high street

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Survey suggests up to 12m m2 of retail space could be repurposed

Britain’s high streets could suffer a “knockout punch” following a second wave of Covid-19 as landlords and developers are forced to close down as much as 12m m2 of retail space and seek alternative tenants.

With many shops already boarded up and many more under threat of closure, a survey of more than 400 property development bosses by the consultancy Altus Group found that 38% of executives had already been switching their retail properties to other uses, while a further 57% were considering doing the same.

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