Workspace Group plc (LON:WKP) has cut its rents by 50% to help its tenants cope with the coronavirus lockdown.
The London-based flexible office space provider said the restrictions on movement have had a material effect on its business, with a large number of requests from customers for rent relief.
Tenants in business centres affected by the lockdown will get the rent reduction for the duration of the restrictions.
Graham Clemett, Workspace’s chief executive, said: "This is a very challenging time for all businesses, with many suffering immediate and significant reductions in income and adverse cashflow.
While the government is providing a number of options to help businesses through this period, we have also been exploring ways of supporting our customers.
“We appreciate that for many customers this will only be the start of a very challenging time, and it is right that we share that burden with customers."