Workspace Group Q1 Customer Enquiries Rise

Workspace Group Plc. (WKP.L) reported that its Good customer demand in the first quarter with enquiries averaging 1,021 per month, compared to 1,016 per month last year. Lettings averaged 88 per month, compared to 93 per month in the previous year.

In July 2018, the company exchanged contracts for the disposal of three small office properties, comprising 106,000 sq. ft. of net lettable space, for a total of 52 million pounds. The portfolio was sold at a premium of 23% (10 million pounds) to the 31 March 2018 valuation, at a net initial yield of 4.0% and capital value per sq. ft. of 488 pounds.

The company expects to complete another six refurbishment projects over the nine months to 31 March 2019, providing a further 310,000 sq. ft. of new and upgraded space.

by RTTNews Staff Writer

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