Workspace Group has had a “good start” to the financial year, with rents nudging up.
The London-focused flexible workspace operator said in an update that 260 lettings had been completed in the quarter to the end of June, with a total rental value of £7m per annum.
Like-for-like rent was up 3.2%, or £3.2m, in the quarter to £103.6m.
The group completed £82m of non-core disposals and a further £7m was exchanged for sale.
In May, it secured planning consent for a 218,000 sq ft office redevelopment at Havelock Terrace, adjacent to Battersea Power Station, SW8.
Chief executive Graham Clemett said: “We have had a good start to the new financial year. While we remain vigilant, London’s SMEs are proving resilient in the current economic climate.”
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