City centres could become “ghost towns” if the prime minister does not do more to encourage workers to go back to the office, the head of the CBI says.
Read the full article on the BBC website
NAM Implications:
- The fact that UK’s city centre offices were “vital drivers” of the economy, supporting thousands of local firms, from dry cleaners to sandwich bars…
- …should not and will not be a reason for encouraging companies to reverse a natural trend (home working)…
- …that was simply accelerated by lockdown.
- Commercial property rental costs are now too high for purpose.
- This will result in a commercial property crash, causing the space to be repurposed as domestic accommodation…
- …a source of new business for hospitality nearby.
