Shares in serviced office company Workspace shed 17.5p – or almost 3% – in trading today, putting the company in the FTSE 250’s five biggest fallers of the session.
The firm has struggled to recover from a sharp fall in its stock ahead of the UK’s coronavirus lockdown, and closed today at 570.5p. Last month, chief executive Graham Clemett said the company had been “significantly impacted” by the Covid-19 pandemic, but that we remained confident of the flex workspace business model.
Head of asset management John Robson has told EG that some tenants have opted not to renew contracts and rather allow staff to continue working from home: “We’re going through a tough time at the moment so some of our customers will leave.”
There was also a fall for St Modwen, which ended the session down 2.2% at 310p, another of the FTSE 250’s sharpest drops.
The most notable real estate rise was posted by Pires Investment, up 5.15% – or 0.25p – to 5.1p, a three-month high.
At 6,104, the FTSE 100 was up 1.7%. The FTSE 250 rose by 0.6% to 17,685.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
