Workspace Group's full year NAV and profits beat forecast, strong demand continues
3rd Jun 2015 07:45
Final results from flexible office provider Workspace Group beat forecasts for profit and net asset value thanks to strong demand in London, rental growth and redevelopments. After an extremely active year for the company in which it acquired five properties - with a new small purchase announced alo
Read moreSector Movers: REITs, travel and software stocks climb
1st Jun 2015 14:08
Real Estate Investment Trusts, travel & leisure and software & IT services shares provided a modicum of stability on Monday, even though the London market stayed marginally in negative territory. The FTSE 100 closed down 0.44% at 6,953.58 with natural resources related shares, especially oil and min
Read moreMonday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreWorkspace acquires new office properties in Clerkenwell
27th May 2015 07:58
Workspace Group, the London flexible office space provider, has exchanged contracts on the purchase of a converted warehouse office property in Clerkenwell, close to Exmouth Market. The FTSE 250 group has acquired 25 & 28 Easton Street, WC1 for £16.55m from current owner and occupier Amnesty Interna
Read moreBlackrock Workspace Property Trust sells four properties for £32.1m
29th Apr 2015 12:06
London property company Workspace said on Wednesday its Blackrock Workspace Property Trust venture has sold four light industrial properties to Westbrook partners for £32.1m. Blackrock Worspace is a joint venture between Workspace and fund manager Blackrock UK, where Workspace holds a 20% interest.
Read moreWorkspace posts positive quarter results thanks to rental growth
22nd Jan 2015 12:04
Office space provider Workspace Group said it enjoyed a good quarter of rental growth during the last quarter of the year. Total rent roll increased 5.1% to £64.4m during the quarter, while like-for-like occupancy was at 92.6%, up from 90.6% the quarter before. The group said it raised £98.5m in a
Read moreWorkspace spends £31m on two central London properties
21st Jan 2015 07:55
Workspace Group has put its recently raised funds to quick use with the acquisition of two London buildings that it said were in areas of strong demand and will enhance earnings. The office space provider shelled out £25.3m for Edinburgh House, near the Oval cricket ground in Kennington, and £6.1m o
Read moreWednesday tips round-up: BT, Workspace Group
24th Dec 2014 15:34
The purchase of EE by BT will likely be inked at some point early next year, with the price tag at or around the £12.5bn price given. BT had begun work on building out its own mobile network from scratch, but an acquisition is more sensible. To take note of, even if highly unlikely some observers ha
Read moreFTSE 250 movers: Food retailers take a hit while energy stocks soar
23rd Dec 2014 09:41
Retail stocks were mixed on the day before Christmas Eve. Home Retail Group, N Brown Group and Supergroup were advancing as last-minute shoppers headed online and hit the high street. Shares in Workspace Group were rising after the company agreed a cash payment of £30m to terminate the proceeds sha
Read moreWorkspace paying £30m to end JV share agreement
23rd Dec 2014 07:59
Serviced office provider Workspace said it will pay £30m in cash to terminate a share agreement relating to its Glebe joint venture. The Glebe portfolio comprised 11 commercial properties, some with mixed-use redevelopment potential, valued at £267m. Workspace has now agreed terms with the former l
Read moreSunday share tips: Betfair, Workspace Group, VP
30th Nov 2014 15:32
Investors should back the judgment of Breon Corcoran, the Chief Executive of Betfair, Matthew Goodman argued in the Sunday Times. In the Inside the City column, Goodman said Corcoran had quietly got Betfair into shape by cutting regulatory risk and imrpoving its website, taking the shares above the
Read moreMonday broker round-up UPDATE
17th Nov 2014 10:32
African Barrick Gold: Investec reduces target price from 262p to 170p and downgrades to sell. Associated British Foods: Liberum initiates with a target price of 3470p and a buy recommendation. Bodycote: Investec lowers target price from 750p to 745p and maintains its buy recommendation. Centamin:
Read moreWorkspace NAV surges on soaring demand for London office space - UPDATE
12th Nov 2014 10:24
London office space provider Workspace impressed with its first-half results that showed its net asset value (NAV) well ahead of expectations thanks to strong demand and income growth across its portfolio. The company later announced it had raised gross proceeds of £96.5m, almost 10% of its previous
Read moreWednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreWorkspace acquires London property for £29.7m
10th Nov 2014 08:01
Workspace Group has acquired a seven-storey London property for £29.7m, it announced on Monday. The site, located at 160 Fleet Street, was bought from administrators acting for The National Asset Management Agency (NAMA). The property was previously owned and operated by the Business Environment Gro
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