14th Feb 2023 10:29
(Alliance News) - Regional REIT Ltd on Tuesday said that virtually all of its tenants have returned to their offices over the past year.
London-based real estate investment trust's office portfolio comprises 156 buildings with 1,042 tenants, geographically spread across the UK in the company's identified growth regions, outside London.
At November 30, 99% of Regional REIT's tenants had returned to the office in some form, with only 12 tenants still to return. It noted that two of the 12 that have returned are part of the Scottish government, which has already signed lease extensions.
It explained that this is a significant increase from March 1 last year, when just 30% of tenants had returned to office.
Regional REIT said that there are a variety ways in which its offices are being utilised, with hybrid working being the most popular. The vast majority of tenants are in full attendance three days per week, Tuesday, Wednesday, Thursday, and for many this is four or even five days per week.
In terms of hybrid working, Regional REIT's data suggests that the majority of staff are being encouraged to work from the office on the same days to foster collaboration.
Shares in Regional REIT were up 0.8% at 60.50 pence each in London on Tuesday morning.
By Sophie Rose, Alliance News reporter
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