Nick Leslau’s Secure Income REIT surged on the London Stock Exchange despite ongoing wrangles over rents with the beleaguered hotel chain Travelodge.
Secure Income rose 8.91% to 293.5p, following news of a Travelodge CVA and a timeline of expected rental payments.
Landlords have slammed Travelodge for failing to front the cash, while Leslau has demanded greater action against private equity firms that he claims are prospering at the cost of property owners.
Hammerson and NewRiver REIT continued to fluctuate, following spikes yesterday.
Hammerson was the biggest loser in the FTSE 250, dropping 13.65% to 118.95p. NewRiver REIT trailed just behind, dropping 13.16% to 68.6p.
Office developer Helical saw its value slide by 7.69% to 360p, off the back of full-year results despite an upbeat outlook from chief Gerald Kaye and an albeit discounted dividend.
Kaye acknowledged that “questions are being asked” about the return to the office, though said he was confident of strong demand for recent developments.
The FTSE 100 dipped 0.64% to 6,341.44 and the FTSE 250 ended the session down 0.4% at 17,925.96.
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