Workspace is set to complete 310,000 sq ft of new and upgraded space across six projects over the next nine months, the company has said in its positive first quarter trading update.
It received three planning consents in the first quarter, totalling 91,000 sq ft of commercial space at The Shaftesbury Centre in Ladbroke Grove, Greville Street in Farringdon and the Biscuit Factory in Bermondsey.
Workspace said customer demand has held up with an average of 1,021 enquiries and 88 lettings per month in the first quarter.
Following £52m of disposals in July, Workspace’s LTV is expected to fall from 18% to 16%.
Jamie Hopkins, chief executive of Workspace, said: “In a year in which we are launching a significant amount of new and upgraded space from our project activity, it is pleasing to see continued strong customer demand driven by our in-house marketing platform.
“With a strong balance sheet, we are excited about the opportunities for further investment in our extensive project pipeline and are actively exploring acquisition opportunities where we believe we can create superior value for shareholders.”
Shares in Workspace have risen 8.5% in the quarter.
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