Occupancy levels in London-based office lets rise to 84.2%

Workspace Group, a London-based business space provider, has seen a 17.5% rise in property valuation since September based on figures up to 31 December 2009.

Workspace, which specialises in redeveloping and letting business space to small and medium-sized enterprises, said like-for-like occupancy rose 1.3% from the lowest levels in March 2009 to 84.2% and net asset value per share increased to 25 pence from 22 pence.

Harry Platt, chief executive of Workspace, said, "There has been good progress in the quarter. Targeted sales have been achieved at good yields without compromising the quality of the portfolio. The purchase of the former Glebe JV portfolio increases our scale and underlying potential. We continue to work hard to maintain rental values and improve occupancy."