Workspace sees rise in third quarter rent rolls

22nd Jan 2016 07:58

(ShareCast News) - Third quarter rent rolls at office space provider Workspace rose 2.3% to £80.8m while enquiry and letting activity picked up "significantly" in the new year.Rent rolls were up 16.4% over the nine months from 31 March 2015. Like-for-like occupancy was up to 91.2%, from 91% at September 2015, but down from 92.2% at the end of last March.Like-for-like rent per square feet was up 1.9% in the quarter to £20.58 and up 13 over the nine months.Workspace said it had bought three properties during the quarter for £50m and disposal of two industrial properties for £30m. It also obtained two planning permissions for 200 residential units and 91,000 sq. ft. of new business space."We continue to see strong levels of customer demand for our high quality space, with our new business centres letting up quickly, as well as solid growth in pricing levels across the portfolio. Enquiry and letting activity has also picked up significantly in the New Year, ensuring the business is well positioned for continued growth," said chief executive Jamie Hopkins.