3 Min Read The London skyline is seen at dawn as the second lockdown in England ends, amid the coronavirus disease (COVID-19) outbreak, in London, Britain December 2, 2020. LONDON (Reuters Breakingviews) - Sprucing up a run-down property is a quick way to add value. That’s what landlords are banking on in 2021, as Amazon.com buys defunct malls and offices become flats. It could boost valuations in the $33 trillion global commercial property market. Even so, assets will still be worth less than five years ago. Demand for office space has plummeted to a record low, according to London’s Great Portland Estates. The landlord’s stock declined 25% since the beginning of 2020 as companies from Twitter to BP and PwC embrace a future where working from home is the norm. Shopping malls are in a worse predicament. Retail titans like Arcadia, owner of Britain’s Topshop, and J.C. Penney in the United States have collapsed amid the pandemic. The e-commerce boom that has eviscerated the high street is only likely to intensify – Moody’s reckons the proportion of online sales will leap to 25% by 2025 from around 15%.