Key Headlines:

-The downturn caused by COVID-19 has affected UK consumers' ability to spend

-Non-essential retail closures have further increased pressure on already struggling businesses

-Many retailers have been unable to meet rent and service charge obligations

-Online penetration reached 32.8% in May (up from 18.9% in Feb), proving supply chain ability to rapidly increase capacity

-Repurposing of retail assets will be a key driver of market activity

-Retailer administrations and CVAs are expected to rise once government support has lifted

-Investment activity is expected to pick up in Q4