Workspace has reported robust demand for industrial parks and London-focused offices.
Headline rental income rose 10% in the six months to the end of September.
Reversionary yields on its £1bn portfolio rose 18 basis points to 6.7%. It said this trend was likely to continue a “little bit”. Rising rents had counteracted this to some extent, the company said.
Workspace reported pretax profit on trading operations up from £5.1m to £7m. Diluted adjusted NAV fell 3% on June to 343p but rose 2.1% over the interim period. The pretax line dropped from £69.4m to £19.9m. The shares closed 22.5p lower at 280p.
20/11/07 Financial Times 24 Times 46 Daily Telegraph B10
