Shares in retail landlords fell today, after HM Treasury extended the ban on commercial tenant evictions to 25 March 2022.
The moratorium on evictions was set to expire at the end of this month. However, Steve Barclay, chief secretary to the Treasury, told Commons today (16 June) that it will now continue for a further nine months.
Shares in retail property owners dropped, with Hammerson down 4.1% to 39.7p, Landsec 0.1% lower at 702.2p, and British Land falling 0.6% to 502.2p. All three dipped sharply on the news, but steadied later in the day’s trading.
It was a similar story for West End landlords Capital & Counties and Shaftesbury, which fell 1.3% to 168.6p and 0.6% to 600.5p respectively.
Elsewhere, FTSE All Share-Listed Custodian REIT dropped 0.7% to 98p, after it posted declines in the value of its portfolio and NAV per share, with its chairman pointing to “testing times” arising from the pandemic.
The broader FTSE 100 index rose 0.2% to 7,185 points, while the FTSE 250 fell 0.1% to 22,618.
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