Flexible office space provider Workspace’s profits increased 65% in the six months to 30 September.
Over its portfolio, like-for-like rent roll has increased 8.8% to £49.7m and rental income is up 28.7% £49.7m.
Underlying property valuation is up 9.6% by £143m to £1.6m and its initial yield has remained the same at 5.4%.
During this period it acquired four properties for £91m, with contracts exchanged for a further acquisition for £10m as well as exchanging contracts to sell an industrial estate for £23m.
It has also been granted planning consent for two mixed-use redevelopments for 320 flats and two refurbishments in Shoreditch and Hoxton, E1.
amber.rolt@estatesgazette.com
