29th December 2020
Amid the COVID-19 pandemic, 2020 has seen major disruption to almost every industry across the world. At Developland, like most companies, our staff have adapted to new working environments such as working from home and returning to the office in a COVID-safe setting. Developland has also faced industry-specific challenges such as temporary construction site closures, which has affected the timely delivery of our projects, as well as supporting our commercial and residential tenants through their lease commitments.
Progress at our most exciting, up and coming project
Richardson Mews has been one of our most exciting, up and coming projects during 2020. Developland saw the successful retention of the iconic red-brick Victorian facade, hosting our first open day in September and showcasing our Richardson Mews architectural model, which was flown in from Hong Kong earlier in the year. We were also proud to welcome a member of the Richardson family to our open day event and as a tribute to the history of the development, we commissioned a blue plaque to honour the Richardsons of Highgate family.
We are finishing the year with an almost complete furnished show flat, which will include a German designer kitchen with composite quartz stone worktops and fully integrated Bosch and Miele appliances, luxury German bathroom fittings and Italian porcelain tiles. Guests will also find premium wool carpets and bespoke oak wood flooring throughout the apartment. We eagerly await the launch of our new luxury show flat, which will be furnished and ready to view in January 2021.
Supporting Stamford Works
Stamford Works is a bustling hub of local creativity, situated in the heart of Hackney. This 24,000 sqft original print work building provides workspaces for small businesses from mainly the media, music, design and fashion industries and is also home to a thriving yoga centre.
We have been working closely with our residents during the pandemic to implement the necessary changes to make the building COVID secure, enabling resident businesses to function with the least amount of disruption possible and supporting them through their lease payments during this difficult time.
Developland is heading into 2021 with some fantastic units available with one, three and five-year leases. If you are interested, please do not hesitate to get in touch with us.
Our 2021 – A brighter future
Reflecting on the past 12 months, the property industry has experienced fundamental changes during the COVID-19 pandemic. One of the biggest changes we have witnessed is the adoption of new ways of working outside of the office environment. Going forward, we anticipate that hot desking will see higher demand as landlords want to offer flexible working for tenants, without the commitment of long-term commercial leases. With that being said, we expect that businesses who do opt for leasing office space will be looking for shorter lease lengths, with more scope for break clauses and the option to sublet any unused space if headcounts are reduced.
The residential rental market has also experienced changes during this unprecedented year, especially in the UK’s major cities. With the approval and nationwide rollout of the COVID vaccine, we expect the residential rental market to regain momentum by mid-2021, once normality resumes in London with employees returning to work. Again, similar to our commercial tenants, we predict that potential residents will be looking for flexibility to sublet should their circumstances change.
Overall there is a long journey ahead, but we are very optimistic that 2021 will be a better year for all.