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Will property bounce back from its slump , or is it just the latest sector to be disrupted by technology ? Pádraig Floyd finds out
Sim cities
These are worrying times for
the commercial property sector , with city centres transformed from hives of industry into virtual ghost towns . And as businesses are not trading , in many cases , they are not paying rent .
Shut up shop The government was swift to impose a moratorium in April on landlords demanding rents or foreclosing on their tenants . The British Property Federation ( BPF ) last month estimated that the amount of unpaid rent for UK commercial property between late March and the end of December would amount to £ 4.5bn .
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