Bickell said: “The relaxation of pandemic restrictions will herald the revival of the West End’s economy in the months ahead, with a gradual return of local and domestic footfall and the reopening of hospitality businesses, shops and its world-renowned cultural and leisure attractions.”
He added: “Our strategy of supporting the survival and reopening of our existing hospitality and retail businesses is aimed at ensuring our locations will be animated, interesting and welcoming for returning customers. Our portfolio is located in the heart of the most vibrant part of London and we are optimistic that the appeal of our carefully-curated destinations will drive the return of footfall and trading.”
The boss would like to see a targeted extension of the business rates holiday for another 12 months to help tenants in the hospitality sector. It is due to finish at the end of March.
The landlord has seen an increase in the number of vacant small office suites, as the government continues to advise people to work from home where possible.
However, the firm added that it is “currently seeing occupier interest and expect our flexible and affordable office space to continue to attract demand as the workforce returns to the West End”.
On a encouraging note from the business, it said in recent months it has seen an increase in occupier interest, particularly from restaurateurs who are looking to open into recovering footfall later in 2021.
Vacancy across the estate stood at 10.8% as at January 31, compared with 10.2% as at September 2020.
