Workspace Group posted a 4p, or 1.4%, increase in its net asset value per share to £2.90 for the six months ended 30 September 2011. The small and medium-sized business space provider said its property portfolio rose by 2.2%, to £733m.
However, it ascribed the increase in NAV to improving occupancy and rent roll in the portfolio, and said the increase did not include “any benefit from yield movement”.
Occupancy was 85.2% at the end of September, an increase of 1.6% since the end of March, and rental income was £50m, an increase of 0.8%.
The company, led by outgoing chief executive Harry Platt (pictured), made a pretax profit in the period of £16.9m.
bridget.o’connell@estatesgazette.com
