Workspace Group plc R.E.I.T. (GB:WKP) has released an update.
Workspace Group PLC, a prominent provider of flexible workspaces in London, reported strong customer demand with 296 new lettings in the second quarter, valued at £7.4m annually, despite a slight dip in like-for-like occupancy to 87.5%. The company continued its growth strategy with robust pricing momentum, an increase in rent per square foot, and substantial progress in the disposal of non-core assets, totaling £29.9m with a further £26.9m expected. With a healthy balance sheet, including £144m in cash and undrawn facilities and a low leverage of 35%, Workspace is poised for future growth with recent refurbishments like Leroy House in Islington, attracting significant interest from SMEs.
For further insights into GB:WKP stock, check out TipRanks’ Stock Analysis page.
