Workspace Group : WKP

Research History

• 12 Feb 2024 7 min read

  QuotedData’s Real Estate Monthly Roundup – February 2024

  Real Estate Roundup Kindly sponsored by abrdn Performance data January’s biggest movers in price terms are shown in the charts below. Investors seem to be taking a ‘wait-and-see’ approach to the real estate sector at the start of 2024, as inflation in the UK lags behind other developed economies and anticipated interest rate cuts may […]

• 22 Jan 2024 10 min read

  QuotedData’s Real Estate Annual Review – 2023

  Real Estate Annual Review Kindly sponsored by abrdn Things can only get better The real estate sector endured a tough 2023, with much of the year characterised by falling values amid the high interest rate landscape. Values have since stabilised across sub-sectors. Optimism returned in the final couple of months of the year, on promising […]

• 13 Dec 2023 15 min read

  QuotedData’s Real Estate Monthly Roundup – December 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Property stocks bounced back in November after a difficult few months, with the median share price across the sector up 8.2%. Investor sentiment towards the sector improved as hopes that interest rates have hit […]

• 19 Jul 2023 9 min read

  QuotedData’s Real Estate Quarterly Review – Second Quarter 2023

  Real estate quarterly report Kindly sponsored by abrdn Discounted indiscriminately Stubbornly high inflation in the UK has raised the prospect of higher for longer interest rates, with the base rate hitting 5.0% in the UK dashing any hopes of a recovery in commercial property values for the foreseeable future. This negative outlook was reflected in […]

• 13 Jun 2023 15 min read

  QuotedData’s Real Estate Monthly Roundup – June 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. The property sector is a hotbed of merger and acquisition (M&A) activity as investors look to take advantage of the unloved sector and wide discounts to net asset values (NAVs). Higher than expected inflation […]

• 25 Apr 2023 8 min read

  QuotedData’s Real Estate Quarterly Review – First Quarter 2023

  Real estate quarterly report Kindly sponsored by abrdn Headwinds mount up The headwinds facing commercial real estate continued to mount up in the first quarter of 2023, reflected in an 8.9% average share price fall across the sector. Already reeling from the impact of higher interest rates on valuations, the collapse of Silicon Valley Bank […]

• 06 Apr 2023 13 min read

  QuotedData’s Real Estate Monthly Roundup – April 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks tumbled further in March as stubborn inflation and a further interest rate hike was announced by the Bank of England. The median average share price fall across the sector was 7.9%. Perhaps […]

• 09 Mar 2023 15 min read

  QuotedData’s Real Estate Monthly Roundup – March 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data February’s biggest movers in price terms are shown in the charts below. It was a mixed month in terms of share price performance for property companies, with a mean average share price fall of 0.3% across the sector. On the positive side, shopping centre behemoth Hammerson […]

• 09 Feb 2023 7 min read

  QuotedData’s Real Estate Monthly Roundup – February 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data January’s biggest movers in price terms are shown in the charts below. 2023 started positively for the property sector, with a median average share price uplift of 1.3%. A gloomy economic outlook at the end of 2022 saw many property companies’ share prices fall to substantial […]

• 24 Jan 2023 10 min read

  QuotedData’s Real Estate Annual Review – 2022

  Real Estate Annual Review Kindly sponsored by abrdn The year the rug was pulled out 2022 will be remembered as the year that the rug was pulled from under the property sector. Having benefitted from decades of low interest rates, which had fuelled debt-ladened deals and piqued the appetite of global investors looking for more […]

• 05 Jan 2023 11 min read

  QuotedData’s Real Estate Monthly Roundup – January 2023

  Real Estate Roundup Kindly sponsored by abrdn Performance data December’s biggest movers in price terms are shown in the charts below. 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however. […]

• 07 Dec 2022 12 min read

  QuotedData’s Real Estate Roundup – December 2022

  Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Valuation declines in the property sector are starting to feed through in NAV announcements and interim results (see page 2) as higher cost of debt continues to put pressure on pricing. Having seen dramatic […]

• 14 Oct 2022 8 min read

  QuotedData’s Real Estate Quarterly Review – Third Quarter 2022

  Real estate quarterly report Kindly sponsored by abrdn Choppy waters ahead High interest rates is a killer for real estate, and so the chancellor’s disastrous ‘mini budget’ at the end of September – which spooked gilt markets and saw interest rate forecasts for next year top 6% – had a catastrophic impact on the listed […]

• 06 Oct 2022 10 min read

  QuotedData’s Real Estate Roundup – October 2022

  Real Estate Roundup Kindly sponsored by abrdn Performance data September’s biggest movers in price terms are shown in the charts below. The real estate sector is facing the perfect storm. Fears that interest rate rises will be higher and faster as the Bank of England looks to quell inflation, exacerbated by the chancellor’s disastrous ‘mini […]

• 15 Jul 2022 8 min read

  QuotedData’s Real Estate Quarterly Review – Second Quarter 2022

  Real Estate Quarterly Review Kindly sponsored by abrdn Storm clouds gather Fears that a perfect storm is brewing has weighed on the real estate sector. Central banks’ move to raise interest rates to curb spiralling inflation has stoked concerns that investors will turn away from real estate to less risky alternatives, such as bonds. Meanwhile […]

• 07 Jul 2022 15 min read

  QuotedData’s Real Estate Roundup – July 2022

  Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. There were only a handful of property companies that saw share price growth in the month of June as interest rate rises and concerns of an impending recession took hold. Top of the list […]

• 10 Jun 2022 16 min read

  QuotedData’s Real Estate Roundup – June 2022

  Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. A perpetual theme in the listed property sector over the last few years has been the persistent discount to net asset value that many companies’ share prices have traded on. Some have succumbed to […]

• 12 Apr 2022 7 min read

  QuotedData’s Real Estate Quarterly Review – First Quarter 2022

  Real Estate Quarterly Review Kindly sponsored by Abrdn Value to be found in topsy-turvy market The first three months of 2022 have been full of significant events. Investor caution followed Russia’s invasion of Ukraine and put paid to a London-listed property company with a portfolio of Russian assets (see page 6 for details). The cost-of-living crisis […]

• 06 Apr 2022 15 min read

  QuotedData’s Real Estate Roundup – April 2022

  Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks generally rallied in March, perhaps due to the relative inflation hedge they can provide. There were two outliers in Dublin office specialist Hibernia REIT and small-cap South East of England landlord McKay […]

• 09 Mar 2022 11 min read

  QuotedData’s Real Estate Roundup – March 2022

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the charts below. The geopolitical uncertainty caused by the Russian invasion of Ukraine has hit markets hard. On the whole, the property sector suffered losses during February, but there were a few companies that saw […]

• 24 Jan 2022 10 min read

  QuotedData’s Real Estate Annual Review – 2021

  Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Bouncebackability Over the course of 2021, the property sector certainly rebounded from the depths of the pandemic-induced slumps of 2020, with the average share price of listed property companies up 14.2%. That didn’t mean there were not some ups and downs along the way. The […]

• 06 Dec 2021 13 min read

  QuotedData’s Real Estate Roundup – December 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the charts below. November ended under a cloud of uncertainty, with the discovery of the Omicron coronavirus variant threating a return of restrictions that have wreaked havoc in the property sector over the past two […]

• 08 Oct 2021 10 min read

  QuotedData’s Real Estate Roundup – October 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data September’s biggest movers in price terms are shown in the chart below. With fears that economic growth will be stunted by supply chain issues, September wasn’t a great month for property stocks. However, development and regeneration specialist Harworth saw its share price rise 13.3% […]

• 09 Sep 2021 9 min read

  QuotedData’s Real Estate Roundup – September 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. Traditionally a quiet month, August was anything but for property companies. While takeovers, IPO activity and large investment deals dominated the headlines, Tritax Big Box REIT continued its impressive performance. After reporting […]

• 09 Jul 2021 10 min read

  QuotedData’s Real Estate Roundup – July 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data June’s biggest movers in price terms are shown in the chart below. In a month when Boris Johnson announced the easing of restrictions would be pushed back as COVID cases rose, only a handful of property companies saw share price gains. Topping the list […]

• 07 Jun 2021 14 min read

  QuotedData’s Real Estate Roundup – June 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Unsurprisingly, St Modwen Properties saw a big rise in its share price in May having received a cash offer for the business (logistics developments and a housebuilding arm) from Blackstone, valuing it […]

• 11 Feb 2021 6 min read

  QuotedData’s Real Estate Roundup – February 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the chart below. The UK’s vaccination programme has lifted optimism for a speedier opening of the economy than first feared at the start of the year. Property companies that reported positive valuation figures for the […]

• 22 Jan 2021 12 min read

  QuotedData’s Real Estate Annual Review – 2020

  Real Estate Annual Review Kindly sponsored by Aberdeen Standard Investments Riding out the COVID rollercoaster The 2020 rollercoaster saw more downs than ups and at times felt like a pandemic induced freefall. Lockdowns, tiers and plenty of U-turns meant investing in property was not for the faint hearted. Positivity returned at the end of the […]

• 14 Jan 2021 9 min read

  QuotedData’s Real Estate Roundup – January 2021

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data December’s biggest movers in price terms are shown in the chart below. The boost of coming out of the second national lockdown in early December was short lived as Christmas was cancelled for most of the UK with COVID-19 cases spiking. It did little […]

• 12 Nov 2020 9 min read

  QuotedData’s Real Estate Roundup – November 2020

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. October finished with the threat of a second lockdown looming over the UK as COVID-19 cases continued to rise. However, this did not dampen demand for shares in some of the companies […]

• 16 Oct 2020 8 min read

  QuotedData’s Real Estate Quarterly Review – Q3 2020

  Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments Toughing it out It has been another challenging quarter for the real estate sector as the COVID-19 pandemic continues to take its toll. The economy bounced back in the early part of the quarter after the national lockdown was lifted, while government schemes such as […]

• 10 Sep 2020 8 min read

  QuotedData’s Real Estate Roundup – September 2020

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]

• 07 Jul 2020 12 min read

  QuotedData’s Real Estate Roundup – July 2020

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments  Performance data June’s biggest movers in price terms are shown in the chart below. Uncertainty caused by the covid-19 pandemic continued to weigh on property stocks in June and we had the first real casualty in Intu Properties, which collapsed into administration. A number of companies […]

• 20 Apr 2020 7 min read

  QuotedData’s Real Estate Quarterly Roundup – First Quarter 2020

  Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments  Covid chaos The covid-19 pandemic has had a devastating effect on the share price of property companies, with 31% wiped off the value of their total market capitalisation during the first quarter of 2020. Companies focused on the retail, leisure and hospitality property sectors were […]

• 10 Mar 2020 12 min read

  QuotedData’s Real Estate Roundup – March 2020

  Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments  Performance data February’s biggest movers in price terms are shown in the chart below. Property stocks tumbled in February as fears over the spread of Covid-19 spooked financial markets around the world and resulted in the largest sell-off since the 2008 financial crisis. There were just […]

• 30 Jan 2020 12 min read

  QuotedData’s Real Estate Annual Review – 2019

   Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]

• 10 Dec 2019 15 min read

  QuotedData’s Real Estate Roundup – December 2019

  Real Estate Roundup  Performance data November’s biggest movers in price terms are shown in the chart below. November saw a host of companies report interim and full year results with varying outcomes. CLS Holdings, which owns a diverse portfolio split between the UK, Germany and France, gave a positive trading update that outlined its capital […]

• 02 Oct 2019 11 min read

  QuotedData’s Real Estate Roundup – October 2019

  Real Estate Roundup  Performance data September’s biggest movers in price terms are shown in the chart below. The month of September was a bumper month for many property companies’ share price, dominated by retail focused companies, who in general have taken a hammering over the past 18 months or so. Top of the list was […]

• 12 Jul 2017 2 min read

  QuotedData investment companies roundup – July 2017

  QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]

• 2 min read

  QuotedData’s economic round up – July 2017

  QuotedData’s economic round up – July 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]

News

• 08 Nov 2024 1 min read

  QuotedData’s morning briefing 8 November 2024 – BGLF, BPCR, WKP, NBDX, NBDG

  In QuotedData’s morning briefing 8 November 2024: Blackstone Loan Financing (BGLF) has announced that further to the approval given by the company’s shareholders to enable compulsory redemptions of its redeemable ordinary shares and following the first redemption made by the company on 10 June 2024, BGLF has announced that it will return approximately €61m by […]

• 29 Jul 2024 2 min read

  QuotedData’s morning briefing 29 July 2024 – SSON, BOOK, HGT, BCPT, WKP

  In QuotedData’s morning briefing 29 July 2024: Smithson (SSON) has published interim results for the six months ended 30 June 2024, during which it provided an NAV total return if -1.8%, underperforming the MSCI World SMID Index which returned 3.4%. Its chairman, Diana Dyer Bartlett, says this is frustrating, noting that the last two and […]

• 05 Jun 2024 2 min read

  Workspace NAV dragged down by office values

  Workspace Group, the London flexible office provider, reported a sharp fall in EPRA net tangible assets (NTA) in annual result to 31 March 2024, as valuations in the office sector continue to tumble. The group’s EPRA NTA was down 13.7% to £8.00 over the year, mainly due to a like-for-like portfolio valuation decline of 8.1% […]

• 08 May 2024 1 min read

  QuotedData’s morning briefing 8 May 2023 – IBT, WKP/CAL

  In QuotedData’s morning briefing 8 May 2023: International Biotechnology Trust (IBT) announced its results for the six month period ended 29 February 2024. The company saw a 11.2% NAV total return per share, substantially outperforming the Reference Index which rose by 8.2%. Notable contributions came from Vera Therapeutics, an autoimmune company which is a top […]

• 25 Jan 2024 2 min read

  QuotedData’s morning briefing 25 January 2024 – IAT, CORD, GRIT, GABI, AEWU, WKP

  In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]

• 13 Dec 2023 2 min read

  QuotedData’s morning briefing 13 December 2023 – TENT, ORIT, SHRS, AEIP, WKP

  In QuotedData’s morning briefing 13 December 2023: Triple Point Energy Transition (TENT) announced its interim results for the six months ended 30 September. The company’s NAV fell 4.3% while shares fell 22% as the discount widened to over 40% at last close. In light of the stubborn discount the company has announced that an orderly […]

• 16 May 2023 2 min read

  Workspace sells £82m industrial portfolio

  Workspace Group has sold five non-core properties in the South East of England for a total of £82m. These disposals were from the portfolio of assets acquired as part of the McKay acquisition completed in May 2022. The properties sold comprise light industrial and logistics properties in Bracknell, Crawley, Poyle, Theale and Weybridge. The site […]

• 10 Mar 2023 1 min read

  QuotedData’s morning briefing 10 March 2023

  In QuotedData’s morning briefing 10 March 2023: Workspace Group (WKP) has sold the residential component of the Riverside mixed-use redevelopment in Wandsworth, London, for £53.95m, in line with its September 2022 valuation (£43.95m is payable immediately with the remaining £10m payable in March 2024). Workspace initially secured planning consent for 402 residential units and a […]

• 28 Feb 2023 2 min read

  QuotedData’s morning briefing 28 February 2023

  In QuotedData’s morning briefing 28 February 2023: Princess Private Equity (PEY) is abandonng (from April 2023) its currency hedging strategy, which had a considerable negative impact on the fund last year. Dividends based on 5% of NAV will resume in June with a 36 cent payment. The chair Richard Battey, who has been on the […]

• 08 Jun 2022 2 min read

  Demand for flexible office space back to pre-COVID levels – Workspace

  Workspace Group said that demand for its flexible office space in London was back to pre-COVID levels in full year results. The group completed 1,520 lettings in the year with a total rental value of £30m, which saw occupancy increase to 89.6%. The group’s rent roll was up 8.7% to £92.9m, with rent per square […]

• 04 Mar 2022 1 min read

  QuotedData’s weekly news show 4th March 2022

  Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew, Richard Williams and Andrew McHattie covered the week’s top stories: • JPMorgan Russian • Cordiant Global Agricultural Income • Workspace/McKay Securities This week’s interview was with Thomas Moore of Aberdeen […]

• 02 Mar 2022 2 min read

  Workspace agrees deal to buy McKay Securities for £272m

  Workspace Group, the London flexible office provider, has agreed a deal to acquire McKay Securities, the listed property owner focused on offices and industrial in the South East, for £272m. Under the terms of the acquisition, each McKay shareholder will be entitled to receive 209 pence per share in cash and 0.115 new Workspace shares. […]

• 17 Nov 2021 1 min read

  Workspace in for £45m Islington office

  Workspace Group, flexible office space provider, has acquired The Busworks, in Islington, for a total of £45m. The off-market acquisition is being funded from existing facilities. A former Victorian bus factory, the property provides 104,000 sq ft of net lettable space across two conjoined warehouse buildings on 1.6 acres. It is currently operated as a […]

• 21 Sep 2021 1 min read

  QuotedData’s morning briefing 21 September 2021

  In QuotedData’s morning briefing 21 September 2021: Workspace has sold 13-17 Fitzroy Street, London for £92m. The 92,700 sq ft property has been vacant since Arup moved out in June 2021. The sale price represents a 3.2% discount to the last valuation as at 31 March 2021 and a capital value of £993 per sq […]

• 22 Jul 2021 1 min read

  QuotedData’s morning briefing 22 July 2021

  In QuotedData’s morning briefing 22 July 2021: Riverstone Energy has sold its one-third stake in ILX Holdings III for about $172m in cash. This is equivalent to 1.0x the amount invested (they use the term MOIC, which stands for money on invested capital). The price is a 23% premium to the valuation at 31 December 2020. […]

• 28 Jan 2021 1 min read

  Office enquiry levels down 33% at Workspace Group

  Workspace Group, the flexible office space provider, has reported tenant enquiry levels were 33% down on last year, in a quarterly business update. It said average monthly enquiries in the final quarter of 2020 (the third quarter of its financial year) was 672, versus 1,001 in the same period in 2019. Lettings, however, were at […]

• 20 Nov 2020 2 min read

  QD view – The valuation game

  Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]

• 09 Jul 2020 2 min read

  Workspace collects 65% of rents

  Workspace Group has collected 65% of rent due this quarter, it has revealed in a trading update. The London flexible office provider said this compared to 80% at the equivalent time last year. Cash collection for the April to June quarter was now at 75%. Encouragingly, customer enquiries steadily improved during the quarter with 765 […]

• 05 Jun 2020 2 min read

  Workspace announces “strong” results

  Workspace Group has announced its annual results for the year ended 31 March 2020. Graham Clemett, Workspace’s CEO, describes the results as strong, but notes that this has been overshadowed by the dramatic impact of the Covid-19 pandemic. He also comments that Freehold ownership of its properties means that Workspace can quickly adapt these to […]

• 17 Apr 2020 2 min read

  Property companies update on covid-19 impact

  Several property companies have updated the market on the impact of covid-19 on their business, as the lockdown in the UK is extended. Schroder REIT Schroder REIT has drawn its revolving credit facility (RCF) with Royal Bank of Scotland International in full, totalling £52.5m, to boost its cash reserves. Following the drawdown, the company has […]

• 09 Apr 2020 2 min read

  Will lenders be sympathetic to the plight of property companies?

  As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]

• 07 Apr 2020 1 min read

  Workspace collects 50% of rents and puts dividend under review

  Workspace Group, one of London’s leading providers of flexible office space, collected around 50% of rents for the quarter. The group said it expects a significantly lower level of cash rental income in the short term, as its 3,000 business tenants battle against the impact of the coronavirus pandemic. Workspace said it had received a “large […]

• 10 Feb 2020 1 min read

  Workspace poaches Whitbread finance director

  Flexible office space provider Workspace Group has poached Whitbread finance director David Benson for the role of chief financial officer. Benson will join the board of the company and become a member of the executive committee, when he joins on 1 April 2020. He is currently corporate finance director of Whitbread and previously held senior finance […]

• 16 Jan 2020 1 min read

  Workspace reports increase in enquiries and lettings

  Workspace Group reported an increase in enquiries and lettings for the fourth quarter of 2019 despite the increased political uncertainty leading up to the general election. The company had 1,001 enquiries per month in the three months to the end of December (up from 907 in 2018) and made 113 lettings per month (2018: 98) […]

• 13 Nov 2019 1 min read

  Workspace posts 2.7% jump in NAV as demand for serviced office space in London continues

  Demand for serviced office space in London remains buoyant as Workspace Group reports strong half-year results that has seen its net asset value (NAV) increased by 2.7% to £11.15 per share. The flexible office space provider has reported net rental income up 11% in the six months to 30 September 2019 to £60.1m, while its […]

• 04 Oct 2019 1 min read

  Workspace books chunky profit on Farringdon sale

  Workspace books chunky profit on Farringdon sale – Workspace Group says that it has exchanged contracts for the disposal of 12-13 and 14 Greville Street in Farringdon for a total of GBP14.75m. The sale of the property is at a premium of 47.5% (GBP4.75m) to the 31 March 2019 valuation, a net initial yield of 1.3% […]

• 24 Sep 2019 1 min read

  QuotedData’s other news 24 September 2019

  In QuotedData’s other news 24 September 2019 Starwood European Loan Finance has lent a developer £56.8m for two years. The money will be used to complete a residential development in London. Also the final €15m lent to a European industrial portfolio has been repaid. This leaves SWEF with net cash of £5.5m against unfunded commitments of […]

• 12 Sep 2019 1 min read

  Workspace Group makes double London sale

  Workspace Group makes double London sale – Workspace Group has sold two London offices for a combined total of £34.75m. It has exchanged contracts to sell Vestry Street Studios, in Shoreditch, and Alexandra House, in Wood Green, at a 20% premium to the 31 March 2019 valuations. Vestry Street Studios, near Old Street, is a […]

• 05 Jun 2019 2 min read

  Workspace hikes dividend by 20%

  Workspace hikes dividend by 20% – Workspace Group has published results covering the year ended 31 March 2019. Over the year the EPRA NAV rose by 4.7% to 1086p and its adjusted diluted earnings per share rose to 40.6p from 36.8p. The dividend has been increased by 20% to 32.87p. Other highlights include: Net rental […]

• 19 Jun 2017 1 min read

  Workspace Group selling third phase of Bow Enterprise Park for £6.3m

  Workspace Group (Workspace) has announced that it has exchanged contracts for the disposal of the third and final phase of the mixed-use redevelopment of Bow Enterprise Park, E3. It says that the final phase of the redevelopment, comprising 130 residential units, has been sold for £6.3m in cash and the return of a new 40,000 […]

• 08 Jun 2017 1 min read

  Workspace responds to media speculation

  Workspace has announced that, having noted media speculation regarding the potential acquisition of Salisbury House at 28-31 Finsbury Circus, EC2 for around £158 million, it can confirm, “that it is in discussions for the asset in question”. Workspace says that there can be no certainty that any transaction will proceed and a further announcement will […]

• 07 Jun 2017 2 min read

  Workspace dividend soars by 40%

  Workspace dividend soars by 40%. Workspace owns and manages more than 3.5 million sq. ft. of business space across 68 London properties. It is home to some 4,000 businesses including some of the fastest growing and established brands across a wide range of sectors. Workspace’s results for the year ended 31 March 2017 show: EPRA net […]

• 25 May 2017 6 min read

  TR Property plans 25.7% dividend increase

  As TR Property announces its full year results for the year ended 31 March 2017,  Hugh Seaborn, its chairman, commented: “I’m pleased to report another solid year of performance from the Trust. The Board are particularly pleased to announce  a final dividend of 6.4p which brings the full year dividend to 10.5p, a 25.7% increase on […]

• 27 Feb 2017 4 min read

  Mining underweight sees Standard Life UK Smaller Companies modestly underperform

  Standard Life UK Smaller Companies has announced its interim results for the half year ended 31 December 2016. During the period, the company provided an NAV total return of 16.7% and a share price total return of 17.7%, these both modestly underperformed the company’s ‘reference index’, the Numis Smaller Companies Index (excluding Investment Companies) Index, […]

• 09 Nov 2016 2 min read

  Workspace NAV barely moves but interim dividend up 40%

  Workspace’s EPRA net asset value per share was down 0.9% over the six months ended 30 September 2016, falling from 923p to 915p. Adjusted underlying earnings per share rose 15.2% to 14.4p as net rental income was up 6% to £38.0m. The interim dividend has been upped by 40% to 6.8p. Net initial yields shifted from 5% […]

• 01 Sep 2016 3 min read

  Standard Life UK Smaller Companies beats benchmark by 10%

  For the year ended 30 June 2016, Standard Life UK Smaller Companies’ diluted net asset value total return was 4.1%, compared with a total return of -6.6% for its benchmark. The Board is recommending a final dividend of 5.20p per share, an increase on last year’s final dividend of 18.2%. If approved, the final dividend, […]

• 08 Jun 2016 2 min read

  Workspace achieves big improvements in NAV and earnings

  Workspace has published results for the year ended 31 March 2016. At the end of the period, the EPRA NAV per share was GBP9.23, an increase of 31.3% over the year. The Board is recommending an increase in the final dividend to 10.19p per share. This represents an increase in the total dividend for the […]

• 26 May 2016 4 min read

  Edinburgh Investment Trust sees strong benefits from its Tobacco holdings

  The Edinburgh Investment Trust, managed by Mark Barnett (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust produced an NAV total return +4.6% (with dent at market value) versus a negative return of 3.9% for the trust’s benchmark, the FTSE All-Share Index. The company’s share price total […]

• 11 Nov 2015 1 min read

  Workspace Group increasing interim dividend by 25%, NAV per share up 12.7%

  Workspace Group has announced its interim results for the six-months ended 30 September 2015. During the period the company’s EPRA NAV per share increased by 12.7% to £ 7.92 (from £7.03 as at 31 March 2015). Within this, the underlying property valuation has increased by 9.6% £1,6312m (31 March 2015: £1,423m). Profit before tax for […]

• 03 Jun 2015 2 min read

  Workspace reports 42% rise in NAV

  Workspace has announced its results for the year to 31 March 2015 and they are good. The EPRA net asset value per share was up 42% to 703p (2014: 496p). The EPRA earnings per share rose from 22.7p to 29.2p The total property return was 37%. On a like-for-like basis the capital value per square foot […]

• 28 Apr 2015 1 min read

  BlackRock Smaller Companies discount offsets strong stock selection

  BlackRock Smaller Companies results for the year ended 28 February 2015 show the fund generated a return on net assets of -1.8%, much better than the 8.5% fall recorded by the Numis Smaller Companies plus AIM (excluding Investment Companies) Index. However the company’s discount widened leaving shareholders with a return of -9.2%. The dividend was increased […]

• 23 Feb 2015 1 min read

  Good interims from Standard Life UK Smaller Companies

  Standard Life UK Smaller Companies has published interim accounts for the six months ended 31 December 2014. It beat its benchmark over this period, returning 1.6% on net assets as compared to a -1.3% return on the Numis Smaller Companies Index (excluding Investment Companies) and the FTSE100 Index of the largest UK listed companies fell by […]

• 20 Feb 2015 1 min read

  Stock selection helps JPMorgan Mid Cap to a great H2 for 2014

  JPMorgan Mid Cap has announced interim results for the six months ended 31 December 2014 that show the fund delivering a total return on net assets of 9.6% – well ahead of the FTSE Mid 250 Index which returned 3.2%. The return to shareholders was 9.2%. the interim dividend has been increased by 45%, from […]

• 13 Feb 2015 2 min read

  Throgmorton hit by widening discount

  BlackRock Throgmorton has published results for the year ended 30 November 2014 that show the company’s net asset value return marginally behind that of the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index; the NAV returned -1.1%, the Index -0.6%. The share price return though was -5.7%, reflecting a widening of BlackRock Throgmorton’s discount. […]

• 21 Jan 2015 1 min read

  Workspace adds two more London offices

  Workspace Group has announced that it has bought Edinburgh House, SE11 for £25.3m and Peer House, WC1 for £6.1m. Edinburgh House is a prominent building in Kennington, close to Oval and Kennington Underground stations, the Vauxhall transport hub on London’s South Bank and Workspace’s existing cluster of properties in this area. Originally constructed in the 1970’s and […]

• 12 Nov 2014 1 min read

  Workspace posts 20% rise in NAV

  WKP : Workspace posts 20% rise in NAV Workspace has announced its results for the six months ended 30 September 2014. they say that over this period the EPRA NAV is up 20% to £5.97 from £4.96 on a 15% increase in property values. Earnings per share rose 27% to 8.4p and from this they […]

• 10 Nov 2014 1 min read

  Workspace buys in Fleet Street

  WKP : Workspace buys in Fleet Street Workspace Group is acquiring 160 Fleet Street for £29.7m. They describe it as “a beautiful Portland stone period building, originally constructed in the 1920’s and entirely refurbished in 2009 to include a new reception, gym, breakout areas and a dedicated suite of meeting rooms”. the building has 54,000 […]

• 30 Sep 2014 1 min read

  Workspace sells part of Poplar Business Park to Telford Homes

  WKP : Workspace sells part of Poplar Business Park to Telford Homes Workspace Group is selling the first phase of the redevelopment of its Poplar Business Park project (800m from Canary Wharf) to Telford Homes. Telford will build 170 apartments and 8,000 sq ft of light industrial space. Workspace is getting £16.3m in February 2015, […]

• 29 Sep 2014 1 min read

  Workspace sells off ten industrial estates

  WKP : Workspace sells off ten industrial estates Workspace Group is selling off ten industrial estates, encompassing a total of 281,500 sq ft, for £44.3m The properties are being bought by Capital Industrial One BV. The price is a 35% premium to the value of the estates at the end of March 2014. The estates […]

• 11 Aug 2014 1 min read

  Workspace jv to build 98 flats in Hayes

  WKP : Workspace jv to build 98 flats in Hayes Workspace Group has got planning permission to redevelop Enterprise House in Hayes. The plan is to create 98 apartments and 38,000 sq t of space dedicated to creative industries (one anchor tenant is the Vinyl Factory – a business making vinyl records. The redevelopment will […]

• 04 Jun 2014 1 min read

  Workspace Group : WKP – final results

  Workspace Group has announced results for the year ended 31 March 2014. Over the year its EPRA net asset value rose by 43% to £4.96 and they raised the total dividend for the year by 10% to 10.63p . The rise in the net asset value was driven by a 27% increase in the valuation […]

• 06 May 2014 1 min read

  Workspace Group : WKP – residential development

  Workspace Group has done a deal with London & Quadrant whereby L&Q will develop a 2 acre site owned by Workspace in Creekside, Deptford – building 148 apartments and a 52,000 sq ft business centre – and will pass Workspace the completed business centre and £9.5m in cash.

• 02 May 2014 1 min read

  Workspace Group : WKP – acquisition

  Workspace Group is adding to its portfolio of rentable office space in London by buying Vestry Street Studios, a 23,000 sq ft studio space near Old Street, London N1 for £12.55m. The net initial yield is 4.1% but Workspace believe the current rent of £23 per square foot can be improved

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