Before retiring, I worked for a large multi-national blue-chip. For many years they had been realising cost reductions (in the absence of growing revenue the execs had to do something to make sure they collected their bonuses from increasing EPS), in part by reducing office space, with most people now either working from client sites, or from home. I suspect a lot of companies will be looking at ways to mitigate the revenue impact of COVID and one way could be to cut office space (or use that threat to negotiate lower rents) and allow people the flexibility to work from home several days per week (encouraged by only having enough desks for a percentage of the staff). Too soon to know how much (if any) impact this will have on property companies, but there's now more awareness of this risk, which could be what's pushing RGL's valuation down. I made a decision yesterday (time will tell if it was a good one) to sell out of RGL (sold at 77.8p), on the basis that there are other areas (in my case global ITs) that I think have better medium and long term growth prospects, in particular I'm not convinced that rental income will be sustainable (short & medium term impact from the coming recession, longer term risk that changes to working patterns will accelerate). It means my income has taken a hit, but I had some headroom before COVID and regular expenses are well down at the moment.