Workspace Group Q3 Like-for-like Occupancy Rises - Quick Facts

Workspace Group Plc. (WKP.L) said that like-for-like occupancy has continued to improve in the third quarter, up 1.0% to 86.6%, reflecting demand from both new customers and existing customer expansions.

The combined impact of the growth in like-for-like occupancy and rise in rent per square feet in the quarter resulted in a 2.3% increase in like-for-like rent roll, to 89.3 million pounds.

Total rent roll increased by 5.0% in the third quarter to 107.2 million pounds. This included rent of 1.4 million pounds from the acquisition of The Busworks, Islington, in November 2021.

The company said it has seen good levels of demand in the third quarter, with a monthly average of 831 enquiries and a good conversion to viewings and subsequent lettings. This has continued in the fourth quarter, with 487 enquiries and 248 viewings in the first two weeks of January.

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