2A02:8012:2226:0:3D09:F8CF:F7BB:5954 at 20:34, 11 March 2025

2025-03-11T20:34:37Z

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{{Short description|UK real estate investment trust}}
{{EngvarB|date=November 2015}}
{{Use dmy dates|date=November 2015}}
{{Infobox company
| name = Workspace Group plc
| logo = Workspace Group logo.svg
| logo_size = 170px
| type = Public company
| traded_as = {{ubl|{{LSE|WKP}}|[[FTSE 250 Index|FTSE 250]] component}}
| foundation = 1987
| location = London, United Kingdom
| key_people = {{Unbulleted list|Stephen Hubbard ([[Chairman]])|Lawrence Hutchings ([[Chief executive officer|CEO]])|Dave Benson ([[Chief financial officer|CFO]])}}
| area_served = [[Greater London]]
| industry = [[Property]]
| products = [[Commercial property]] for [[small and medium enterprises|SMEs]]
| revenue ={{increase}} [[Pound sterling|£]]184.3 million (2024)<ref name=AR>{{cite web |url=https://www.workspace.co.uk/onlineannualreport2024/pdfs/Workspace_AR24.pdf|title=Annual Report 2024|publisher=Workspace Group |access-date=10 February 2025}}</ref>
| operating_income ={{decrease}} £(157.9) million (2024)<ref name=AR />
| net_income = {{decrease}} £(192.5) million (2024)<ref name=AR />
| num_employees =
| parent =
| subsid =
| homepage = [http://www.workspace.co.uk www.workspace.co.uk]
}}
'''Workspace Group plc''' is a [[real estate investment trust]]<ref>{{cite news|url=https://www.forbes.com/afxnewslimited/feeds/afx/2007/06/11/afx3806920.html|archive-url=https://archive.today/20110604010021/http://www.forbes.com/afxnewslimited/feeds/afx/2007/06/11/afx3806920.html|url-status=dead|archive-date=4 June 2011|title=Workspace Group FY pretax profit falls; cautious on rising interest rates|date=11 June 2007|agency=[[AFX News]]|work=[[Forbes]]|access-date=24 May 2008}}</ref> based in London, England. Founded in 1987 by the [[privatization|privatisation]] of [[property]] assets of the former [[Greater London Council]], the company [[Renting|lets]] office, industrial and [[workshop]] space to [[small and medium enterprises|small and medium-sized enterprises]]. It is listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 250 Index]].

==History==
The company was founded under the name London Industrial in 1987 as a vehicle for the disposal of the [[commercial property]] assets of the defunct [[Greater London Council]].<ref name="history">{{cite web|url=http://www.workspace.co.uk/about_us/history/|title=Company history|publisher=Workspace Group|access-date=25 May 2008}}</ref> Financed by a group of twelve investors, the company acquired 18 properties from the [[London Residuary Body]],<ref name="history" /> which was charged with disposing the GLC's assets. The firm [[Initial public offering|listed]] on the [[London Stock Exchange]] in 1993 with a [[Market capitalization|market cap]] of around £813 million,<ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/article399123.ece|archive-url=https://web.archive.org/web/20110612052334/http://business.timesonline.co.uk/tol/business/article399123.ece|url-status=dead|archive-date=12 June 2011|title=Judgment Day: Should you buy shares in Workspace Group?|date=5 December 2004|work=[[The Sunday Times]]|access-date=25 May 2008 | location=London}}</ref> and subsequently expanded geographically with the purchase of [[industrial park|industrial estate]]s in the [[West Midlands (region)|West Midlands]].<ref name="history" /> The company changed its name to Workspace Group PLC in 1997.<ref>{{cite web|url=http://www2.hemscott.com/equities/company/summary/c02510m.stm|title=Workspace Group PLC: Summary Details|date=2 May 2006|publisher=Hemscott|access-date=25 May 2008}}</ref>

The £80 million purchase of 23 London properties from Tonex in 1999 increased the Workspace portfolio by 40%,<ref>{{cite news|url=http://www.citywire.co.uk/adviser/-/news/market-and-shares/content.aspx?ID=209178|title=Workspace making a name for itself|last=Wallen|first=Joanne|date=9 May 2006|work=[[Citywire]]|access-date=25 May 2008}}</ref> while the Midlands investments were sold off two years later as the group chose to concentrate on the capital region.<ref name="history" /> Along with eight other major British property companies, Workspace converted to [[real estate investment trust]] status upon their introduction to the UK in January 2007.<ref>{{cite news|url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/08/cmreit10.xml|archive-url=https://web.archive.org/web/20070114103411/http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/08/cmreit10.xml|url-status=dead|archive-date=14 January 2007|title= Reits of passage: a new era for property funds|last=Farrow|first=Paul|date=8 January 2007|work=[[The Daily Telegraph]]|access-date=25 May 2008}}</ref>

==Portfolio==
The portfolio, which comprises a (largely [[Fee simple|freehold]]) mix of [[office#Office buildings|office buildings]], [[Industrial park|industrial estates]], [[serviced office]]s and [[warehouse]]s primarily for [[Renting|let]] to [[small and medium enterprises|small and medium-sized enterprises]], was valued at £2.4 billion as at 31 March 2024.<ref name=AR />

==References==
{{reflist|30em}}

==External links==
*[http://www.workspace.co.uk Official website]

{{Real estate in the United Kingdom}}
{{FTSE 250 Index constituents}}

{{Authority control}}

[[Category:Companies based in the London Borough of Lambeth]]
[[Category:Financial services companies established in 1987]]
[[Category:Real estate companies established in 1987]]
[[Category:Real estate investment trusts of the United Kingdom]]
[[Category:Companies listed on the London Stock Exchange]]
[[Category:Companies in the FTSE 250 Index]]

Workspace Group - Revision history

2A02:8012:2226:0:3D09:F8CF:F7BB:5954 at 20:34, 11 March 2025