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WOTSO Property ( (AU:WOT) ) has provided an announcement.
WOTSO Property has expanded its operations in New Zealand by acquiring a fourth flexspace location in Whangārei, Northland, for $NZ3.7 million. This acquisition not only enhances WOTSO’s presence but also boosts its property portfolio to over $300 million, targeting the underserved market in suburban and regional areas where demand for flexible workspaces is growing. The new site, a former car sales yard now featuring a modern office building, will accommodate approximately 105 desks and offers substantial redevelopment potential. This expansion marks WOTSO’s first site outside Auckland, bringing its total to 27 sites across Australia and New Zealand, with plans to open four additional locations in the coming months.
More about WOTSO Property
WOTSO Property (ASX: WOT) is a prominent provider of flexible workspace solutions across Australia and New Zealand, focusing on converting underutilised assets into dynamic coworking environments. The company emphasises suburban and regional development to meet the increasing demand for flexible office spaces.
YTD Price Performance: -12.50%
Average Trading Volume: 4,348
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$113.5M
Learn more about WOT stock on TipRanks’ Stock Analysis page.
