Among property types, the effects of the pandemic are likely to create winners and losers, as changes in consumer behavior will have divergent impacts.

The past few years have not been kind to the UK’s high streets. Last year, the number of shops lying empty soared to more than 7,500 according to the Local Data Company — the largest increase in five years — and many of the UK’s biggest brands hit the headlines with news they had entered the red zone or proceeded with company voluntary administrations (CVAs).

Any current story about short- to mid-term investment strategy has to start with COVID-19. The disease that swept the world this spring shook asset values of all kinds. Some of them are still shaking.