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1 History  





2 Portfolio  





3 References  





4 External links  














Workspace Group







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From Wikipedia, the free encyclopedia
 


Workspace Group plc
Company typePublic company

Traded as

  • FTSE 250 component
  • IndustryProperty
    Founded1987
    HeadquartersLondon, United Kingdom

    Area served

    Greater London

    Key people

  • Graham Clemett (CEO)
  • Dave Benson (CFO)
  • ProductsCommercial property for SMEs
    RevenueIncrease £174.2 million (2023)[1]

    Operating income

    Decrease £(2.5) million (2023)[1]

    Net income

    Decrease £(37.8) million (2023)[1]
    Websitewww.workspace.co.uk

    Workspace Group plc is a real estate investment trust[2] based in London, England. Founded in 1987 by the privatisationofproperty assets of the former Greater London Council, the company lets office, industrial and workshop space to small and medium-sized enterprises. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

    History[edit]

    The company was founded under the name London Industrial in 1987 as a vehicle for the disposal of the commercial property assets of the defunct Greater London Council.[3] Financed by a group of twelve investors, the company acquired 18 properties from the London Residuary Body,[3] which was charged with disposing the GLC's assets. The firm listed on the London Stock Exchange in 1993 with a market cap of around £813 million,[4] and subsequently expanded geographically with the purchase of industrial estates in the West Midlands.[3] The company changed its name to Workspace Group PLC in 1997.[5]

    The £80 million purchase of 23 London properties from Tonex in 1999 increased the Workspace portfolio by 40%,[6] while the Midlands investments were sold off two years later as the group chose to concentrate on the capital region.[3] Along with eight other major British property companies, Workspace converted to real estate investment trust status upon their introduction to the UK in January 2007.[7]

    Portfolio[edit]

    The portfolio, which comprises a (largely freehold) mix of office buildings, industrial estates, serviced offices and warehouses primarily for lettosmall and medium-sized enterprises, was valued at £2.4 billion as at 31 March 2022.[1]

    References[edit]

    1. ^ a b c d "Annual Report 2023" (PDF). Workspace Group. Retrieved 13 February 2024.
  • ^ "Workspace Group FY pretax profit falls; cautious on rising interest rates". Forbes. AFX News. 11 June 2007. Archived from the original on 4 June 2011. Retrieved 24 May 2008.
  • ^ a b c d "Company history". Workspace Group. Retrieved 25 May 2008.
  • ^ "Judgment Day: Should you buy shares in Workspace Group?". The Sunday Times. London. 5 December 2004. Retrieved 25 May 2008.
  • ^ "Workspace Group PLC: Summary Details". Hemscott. 2 May 2006. Retrieved 25 May 2008.
  • ^ Wallen, Joanne (9 May 2006). "Workspace making a name for itself". Citywire. Retrieved 25 May 2008.
  • ^ Farrow, Paul (8 January 2007). "Reits of passage: a new era for property funds". The Daily Telegraph. Archived from the original on 14 January 2007. Retrieved 25 May 2008.
  • External links[edit]


    Retrieved from "https://en.wikipedia.org/w/index.php?title=Workspace_Group&oldid=1207059446"

    Categories: 
    Companies in the FTSE 250 Index
    Companies based in the London Borough of Lambeth
    Financial services companies established in 1987
    Real estate companies established in 1987
    Real estate investment trusts of the United Kingdom
    Companies listed on the London Stock Exchange
    Hidden categories: 
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    This page was last edited on 13 February 2024, at 21:40 (UTC).

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