Workspace announces NAV rise and share placing

Centro Buildings, Camden, London

Flexible office provider Workspace has reported an annual rise in EPRA NAV per share of 8.8% to £10.37 and announced a share placing to help fund new acquisitions.

The company also reported a 20% increase in adjusted trading profit to over £60m in the year to 31 March, driven by 21% net rental income growth.

Workspace’s project pipeline is expected to deliver 773,000 sq ft of both new and upgraded space at an estimated cost of £152m in the coming year and to finance the cost, the group has proposed a placing representing about 9.96% of market capitalisation.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now