Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.
By Michele Maatouk
Date: Thursday 09 Jul 2020
LONDON (ShareCast) - (Sharecast News) - Office space provider Workspace said on Thursday that customer demand improved in the first quarter but that activity remains well below pre-Covid levels.
The company said enquiries in June rose to 765 from 272 in April. However, average monthly enquiries in the first quarter were 506 versus 1,060 in same period a year ago, while monthly average lettings dropped to 43 from 121.
Cash collection of rent due for the first quarter is now at 75%, net of rent reductions and deferrals and the 50% rent reduction offered to business centre customers ended at the end of June.
Workspace said it has received 65% of rents due for the second quarter to date, compared to around 80% at the same time last year.
While customers are slowly returning to its centres, activity is now at around 15% of usual levels, it said.
"The Covid-19 lockdown had a significant impact on customer demand in the quarter, although as restrictions eased we saw a strong pick-up in activity," Workspace said. "We are encouraged to see that the level of activity continued to increase in early July."
|52 Week High||920.50p|
|52 Week Low||482.40p|
Compare performance with the sector and the market.
|Time||Volume / Share Price|
|15:46||11 @ 863.50p|
|15:45||23 @ 863.50p|
|15:45||37 @ 863.50p|
|15:45||20 @ 863.50p|
|15:45||51 @ 863.00p|