Workspace sees pick up in demand for office space as Covid-19 restrictions ease

Thu, 6th May 2021

Flexible office provider, Workspace, has reported a pick up in demand as the government's Covid-19 restrictions has lifted. The easing of restrictions during the first quarter resulted in an increase of customer utilisation of the business centres, reaching 20% of pre-covid levels by the end of March and 30% by the end of April. The company has had 'robust' cash collection despite the restrictions on rent collection, with 92% of rent due for the fourth quarter of 2020/21 now collected. For monthly paying customers, 84% of rent due for the first quarter of 2021/22 has been collected, which is in line with the levels at the same point in previous quarters. Graham Clemett, Workspace CEO, said: 'It has become obvious that the pandemic is creating a new paradigm in the way people work. We have a significant growth opportunity in providing our flexible offer to businesses who are looking for well-located space where they can create their own identity and build a home for their teams. 'It is early days, but with increasing demand and a reduction in customers vacating, we are now seeing occupancy stabilise and anticipate a recovery in occupancy levels at our centres during the current financial year.' At 8:06am: (LON:WKP) Workspace Group PLC share price was 0p at 711.5p Story provided by StockMarketWire.com

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