The underlying growth in the rental market has seen average rents per square foot increase by 5.2 per cent across Workspace's London and south-east portfolio.
Workspace's 'added value' programme – tackling increasing densities and change of use – is gathering pace. The group awaits the result of its application for a residential development at Three Mills, east London.
During the first half of the year, the company bought four sites in the UK and disposed of its Midlands portfolio, which was sold for £42.3m. Workspace acquired sites in Harlow and three other sites across London. In total, the group acquired 226,837 sq ft for £18.5m.
Workspace chief executive Henry Platt said the firm was focused on providing workspace in London and the south-east.
The company has £80m in its war chest for acquisitions.
Source
The Facilities Business