The Courier & Advertiser (Angus and Dundee)
Innovation the key for commercial property sector, says expert
City well placed for creative proposals that suit new ways of working
A Dundee-based expert believes innovative spaces will do well in a challenged commercial property marketplace after Covid-19.
David Rose, who recently joined Lindsays in Dundee as a commercial property partner, said the city’s creative industries and services sector present opportunities for innovative developments that suit a new way of working.
Mr Rose said: “There is little doubt the post-covid commercial property market will be challenging.
“People will be changing how they work, and investors will be looking much more closely at proposals.
“On the far side, there may be a greater demand for more creative commercial property which works for the new post-covid normal.
“With Dundee’s emerging creative industry and services sector, there may be opportunities for more flexible working spaces, or projects that combine residential with commercial property to retain or attract the right type of workers to the area.
“Projects that consider both the residential and business needs of workers and business owners could emerge and Dundee is well placed to take advantage of this.”
Mr Rose praised the efforts of Port of Dundee owner Forth Ports in attracting decommissioning and renewables work to the city.
He said this could lead to businesses in the supply chain which support this effort coming to the city.
He said financing developments should still be possible as there were more new finance and investor players who are more nimble and have a bigger appetite for risk, even if the larger lenders slow down their activity for a while.