Nearly 37 percent of decision-makers said their business is planning to relocate to a smaller commercial space in the next year. Also, the same percentage of decision-makers are looking to relocate to a new location with cheaper rent.  

The research also found that 57 percent of businesses will rely on a physical workspace in order to network and collaborate with partners and prospective clients. Paul Howells, CEO of Accumulate Capital, said: “Today’s research demonstrates just how COVID-19 is affecting both the UK’s businesses and its commercial real estate market. As a result of the pandemic, businesses clearly no longer look at offices and commercial property in the same way, which will have significant implications for property developers and commercial landlords.

The post UK businesses expect downsizing in the coming months: Research appeared first on International Finance.