Workspace slashes dividend as profit plummets amid new boss’ shake-up Property Real estate group Workspace slashed its dividend in the latest financial year as the firm plunged to a hefty loss. The FTSE 250 company posted a £120.5m loss before tax, from £5.4m last year, which was driven by nearly £160m in write-downs of property valuations amidst a changing strategy. New boss Charlie Green – who [...]
Workspace: Lettings activity surges but CEO warns on economic uncertainty Property Workspace lettings activity in Q4 was up around 15 per cent of the same quarter in the previous year, as the group competed for over £10m worth of new rentals
Workspace: London office provider struggles with customer churn Property Workspace’s problem with customer churn has continued to hit the London-focused firm, with occupancy in its rented offices reducing by 1.3 per cent during last quarter to 86.1 per cent. The flexible office provider completed 273 new lettings over the last quarter, for a total rental value of £6m, it said in a trading update [...]
Workspace: London flexible office firm’s profit up despite low occupancy rates November 22, 2024 Flexible office provider Workspace has continued to see an uptick in demand for lettings despite a slight downturn in occupancy rates. The business, which manages millions of square feet of office space across London, saw a 4.3 per cent boost in underlying rental income, bringing it to a total of £60.2m. In line with “good customer [...]
Workspace: Lettings strong but occupancy declines with clients vacating October 15, 2024 Leading provider of flexible office spaces Workspace reported strong lettings in the latest quarter, but saw some of its bigger clients quit as occupancy declined. The firm said it completed 296 lettings in the second quarter of 2024, generating £7.4m in annual rental income. The London-based firm’s like-for-like occupancy rate however dipped by 0.7 per [...]
Essensys shares shoot up as flexible workspace software provider beats estimates August 29, 2024 Shares in software platform essensys climbed as much as 20 per cent on Thursday morning after it said it expected to report revenue, earnings and cash flow ahead of market expectations in its full year results. Essensys, which provides software and technology to the flexible workspace industry, has projected revenue of £24m and an adjusted [...]
Workspace records ‘resilient’ office demand in quieter quarter July 11, 2024 Workspace, which was established in 1987, manages 4.4m square feet of flexible office space across 74 locations in London and the south east.
London to be boosted by £1bn mixed use property development in Blackfriars April 30, 2024 A property developer has been given the green light for a £1bn mixed use office and residential redevelopment at 18 Blackfriars in London.
Square Mile and Me: Workspace CEO Graham Clemett looks back at his career April 25, 2024 Graham Clemett, CEO of Workspace Group, takes us through his career in the Square Mile ahead of his upcoming retirement.