Landsec gained more than 2% in trading today against a more modest rise of less than half a percent in the FTSE 100.
The REIT announced this morning that it had received close to two thirds of the rent due from commercial tenants across its portfolio, and has established an £80m rent relief fund for food and beverage occupiers and small businesses affected by the coronavirus pandemic.
In an interview with EG, interim chief executive Martin Greenslade said the company is now striving to “balance cost reduction with the ability to get things up and running very quickly once we come out of lockdown”.
The company’s shares closed up 11p at 537.6p.
Elsewhere in the FTSE 100, SEGRO was up by more than 1% after updating the market on its performance during the Covid-19 crisis. The company said it has received more than 70% of rent due for the second quarter.
U+I made notable gains, rising by 7.6% to 85p per share. The regeneration developer, which issued a results warning last month, said today that it has struck a deal to offload a 50% stake in a science and technology campus alongside assets in Oxfordshire to Brookfield for £44m.
The FTSE 100 was up 25 points at 5,480. The FTSE 250 ended the day down 110 at 14,436.
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