Norwich reopens for business
Norwich reopens for business
Since the middle of June, lockdown measures in the UK have gradually been easing. On the 15th June, some non-essential shops were allowed to reopen, while the 4th July is set to see the return of pubs, restaurants and hairdressers. This is great news for Norwich businesses, many of which have struggled to keep going through lockdown. The reopening of the city’s economy will provide residents, and investors, with plenty of opportunities to make the most of what Norwich has to offer. Keep reading to find out more.
Pubs and restaurants
Pubs and restaurants in Norwich will be allowed to open at the beginning of July for the first time in months. However, while many bars and eateries are already getting ready to open their doors, there are a lot of establishments that won’t be welcoming customers back on the 4th. This is largely because social distancing measures make it almost impossible for smaller pubs and restaurants to make their businesses viable. In fact, some of the city’s independent bars and eateries may be forced to close their doors for good if the current situation doesn’t improve soon.
The Lanes are home to some of the best independent shops and boutiques in Norwich. From restaurants, cafes and pubs to beauty salons and shops, The Lanes are the city’s most unique shopping destination. A lot of the shops in The Lanes were able to reopen on the 15th June. These retailers introduced strict social distancing measures in order to keep staff and customers safe. From next month, it’s likely that many of the pubs and restaurants in the area will also open their doors, although almost all will have to restrict numbers in order to stay within the rules.
Throughout lockdown, office workers have been encouraged to stay home whenever possible. As a result, the city’s large commercial buildings have been relatively empty for the last few months and some have closed completely. Many of these commercial spaces are now starting to reopen. However, like bars and restaurants, a lot of offices are having to limit numbers in order to keep employees safe. Recent news shows how new permitted development rights will allow for additional storeys for blocks of flats. In turn, this may provide new and exciting investment opportunities.
The changing shape of the Norwich business landscape will inevitably provide a number of excellent opportunities to the city’s investors. For example, if companies need to reduce the number of workers in their existing offices, they may need to hire more space, potentially driving the demand for offices in the city.
It’s possible that shops and restaurants will also be looking for more space, while closed pubs can offer excellent freehold opportunities to investors. These opportunities could help Norwich to bounce back from lockdown and help to ensure the city remains one of the most exciting places to invest in East Anglia.
If you’re an investor looking for opportunities, or if you’re a business owner thinking of selling your premises, we can help. Get in touch with a member of our team today to find out more.