1st Aug 2006 10:00
Workspace Group PLC01 August 2006 WORKSPACE REPORTS ENCOURAGING PROGRESS AT AGM Speaking at the Company's Annual General Meeting being held today, Tony Hales,Chairman of Workspace Group PLC ("Workspace") the leading provider of flexiblebusiness accommodation to small and medium sized enterprises in London and theSouth East, made the following statement. " I am pleased to report, that the Group has made a positive start to theyear. We have made a number of property acquisitions which fit well with therest of the portfolio. We are particularly pleased that we have added to ourholdings near the Olympic site in East London. We believe that this area willsee continuing demand for space. The properties we have purchased will respondwell to our style of active management. We continue to track a wide range ofacquisition opportunities. " Looking across the entire portfolio we have made some progress in drivinglike-for-like rents forward. Overall occupancy remains steady. " The legislation on Real Estate Investment Trusts (REITS) received Royal Assenton 20 July. We expect to announce plans to convert to REIT status once thedetailed regulation and guidance has been settled. " The joint venture with Glebe that we announced in June has made an encouragingstart. We have ambitious plans to accelerate the momentum of regeneration whichcould realise significant value from a change of use or by intensifying thecurrent use. As pressure on space in central London continues to increase,higher density mixed occupation of space remains at the forefront of urbanplanning. " The Group has made very good progress. Our market place remains robust eventhough the economic environment with higher energy prices remains volatile. Wehave a first class team to drive the business forward. There will be a furtherupdate on progress when we announce the results for the first quarter on Monday21 August 2006." -ends- Date: 1 August 2006 For further information: Workspace Group PLC cityPROFILEHarry Platt, Chief Executive Simon CourtenayMark Taylor, Finance Director 020-7448-3244020-7247-7614 web: www.workspacegroup.co.uk------------------------------- This information is provided by RNS The company news service from the London Stock Exchange ENRelated Shares:
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