17th Apr 2024 09:19
(Alliance News) - Workspace Group PLC on Wednesday said it "maintained robust levels of viewings and lettings activity" throughout the last quarter.
The London-based provider of flexible working space said occupancy was stable at 88.1% during the fourth quarter ending March 31, from 88.4% in the previous quarter.
Rent roll was up 1.9% in the fourth quarter whereas in the same quarter last year, it grew 9.6%.
A total of 343 new lettings with a rental value per year of GBP8.7 million were completed in the quarter. An improvement from the 341 lettings valued at GBP8.3 million reported last year.
Chief Executive Officer Graham Clemett said: "We have made additional progress on disposals, recycling capital efficiently to invest in our value-enhancing programme of refurbishment projects across the portfolio, while further strengthening our balance sheet."
The refurbishments of various properties in London is expected to deliver 211,000 square feet of new and upgraded space.
Workspace shares were down 1.1% to 482.00 pence each in London on Wednesday morning.
By Elijah Dale, Alliance News reporter
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