An interesting comment by Cushman's here - it will be very interesting to see if PE players strengthen their hand in UK real estate if asset prices fall.  The market has been waiting some time for the 'wall of cash' to be unleashed following Brexit uncertainty (now compounded by Covid-19 of course).  Funds taking a 5 year view rather than a 5 month view will still see UK real estate as enormously attractive - the fundamental strength of the UK market remains, if slightly hidden from view at the moment.