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UK close to Australian trade deal Louise Moon, Simon Foy © Provided by The Telegraph Liz Truss Workspace tumbled to the bottom of the FTSE 250 after a double-downgrade by Barclays that said there is “too much” optimism being priced in about the positive impact reopening will have on flexible office space providers. Paul May, an analyst at the bank, said the downturn in London offices that started last year “could be structural rather than cyclical, with permanently lower London-office demand due to work from home”. Analysts noted that since office take-up in London collapsed in 2020, vacancy rates have roughly doubled, now at nearly 11pc, and availability of space is close to a 20-year high. Landlords have, however, generally outperformed.

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