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United Kingdom

Workspace Group PLC (WKP.L)

WKP.L on London Stock Exchange

964.50GBp
16 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Workspace reports HY net rental income growth of 21 pct
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Workspace Group Plc ::WORKSPACE GROUP PLC - ‍INTERIM RESULTS​.WORKSPACE - HY GROWTH IN NET RENTAL INCOME YOY OF 21% TO £46.1M, RESULTING IN 25% GROWTH IN ADJUSTED TRADING PROFIT AFTER INTEREST TO £29.4M​.WORKSPACE GROUP PLC - ‍HY PROFIT BEFORE TAX OF £123.7M WITH A SIGNIFICANT UPLIFT IN PROPERTY VALUATION (30 SEPTEMBER 2016: £7.1M)​.WORKSPACE GROUP PLC - HY ‍EPRA NET ASSET VALUE PER SHARE OF £10.14, UP 6.4% IN SIX MONTHS​.WORKSPACE GROUP PLC - ‍UNDERLYING INCREASE OF 3.5% IN PROPERTY VALUATION TO £2,139M IN SIX MONTHS​.WORKSPACE GROUP PLC - ‍30% INCREASE IN INTERIM DIVIDEND TO 8.84P​.WORKSPACE GROUP PLC - ‍LOAN TO VALUE AT 20% WITH UNDRAWN FACILITIES (INCLUDING CASH) OF £243M AT PERIOD END​.  Full Article

Office space provider Workspace sells property for 14 mln stg
Monday, 11 Sep 2017 

Sept 11 (Reuters) - Workspace Group Plc :WORKSPACE GRP PLC - DISPOSAL.‍ANNOUNCES THE EXCHANGE OF CONTRACTS FOR DISPOSAL OF STRATFORD OFFICE VILLAGE, E15, FOR £14M​.‍SITE CURRENTLY CONSISTS OF 52,000 SQ. FT. OF SELF-CONTAINED OFFICES​.  Full Article

Office space provider Workspace sells industrial estate property for 30 mln stg
Wednesday, 30 Aug 2017 

Aug 30 (Reuters) - Workspace Group Plc :WORKSPACE GRP PLC - DISPOSAL.PLEASED TO ANNOUNCE EXCHANGE OF CONTRACTS FOR DISPOSAL OF ZENNOR ROAD INDUSTRIAL ESTATE IN BALHAM, SW12, FOR 30 MLN STG.PROPERTY WAS SOLD AT A PREMIUM OF 84 PCT (13.7 MLN STG) TO 31 MARCH 2017 VALUATION OF 16.3 MLN STG, AT A NET INITIAL YIELD OF 2.9 PCT.  Full Article

Workspace Group completes of 200 mln stg private placing
Monday, 21 Aug 2017 

Aug 21 (Reuters) - WORKSPACE GROUP PLC ::‍COMPLETED RAISING OF 200 MLN STG THROUGH ISSUE OF £80M EIGHT-YEAR NOTES AND 120 MLN STG TEN- YEAR NOTES, PREVIOUSLY ANNOUNCED ON 28 JULY​.  Full Article

Workspace announces private placement of 200 mln stg
Friday, 28 Jul 2017 

July 28 (Reuters) - WORKSPACE GROUP PLC ::PRIVATE PLACEMENT OF 200 MLN STG.SAYS ‍PRIVATE PLACEMENT COMPRISED OF £80M EIGHT-YEAR NOTES AND £120M 10-YEAR NOTES​.SAYS ‍NEW NOTES WILL BE PLACED WITH EIGHT UK AND US INSTITUTIONAL INVESTORS​.SAYS ‍ALL AGREEMENTS ARE SUBJECT TO FINAL DOCUMENTATION WITH TRANSACTION EXPECTED TO COMPLETE ON 16 AUGUST 2017​.SAYS ‍PROCEEDS WILL BE USED TO FUND GROUP'S INVESTMENT PLANS​.  Full Article

Workspace says records strong customer demand in Q1
Friday, 14 Jul 2017 

July 14 (Reuters) - Workspace Group Plc :Strong customer demand in Q1, with enquiries averaging 1,055 per month (FY 2016/17: 1,060) and lettings averaging 95 per month (FY 2016/17: 99).Q1 LTV ratio of 21% at 30 June 2017, with cash and undrawn facilities of £79m."Had a very busy and successful start to new financial year with robust demand from customers"- CEO.Net debt increased by £194m to £436m at 30 June 2017.  Full Article

Workspace Group buys a London property for 158.7 mln stg
Friday, 23 Jun 2017 

June 23 (Reuters) - Workspace Group Plc ::It has acquired Salisbury House at 28-31 Finsbury Circus, London EC2, for a cash consideration of 158.7 mln stg.‍Property has a gross asset value of 158.7 mln stg and generated net rental income of 8.1 mln stg over last 12 months​.Building is held on a long leasehold from city of london corporation.Transaction will be funded from workspace's existing resources, an additional 100 mln stg of five-year revolver facilities.  Full Article

Workspace says to sell Residential Redevelopment in Bow
Monday, 19 Jun 2017 

June 19 (Reuters) - Workspace Group Plc ::Announces exchange of contracts for disposal of third and final phase of mixed-use redevelopment of Bow Enterprise Park, E3.Final phase of redevelopment, comprising 130 residential units, sold for £6.3m in cash and return of new 40,000 sq ft business centre.  Full Article

Workspace responds to media speculation
Thursday, 8 Jun 2017 

June 8 (Reuters) - Workspace Group Plc :Response to media speculation.‍Notes media speculation regarding potential acquisition of Salisbury house at 28-31 Finsbury Circus, EC2 for around £158 million.​.‍Confirms that it is in discussions for asset in question​.‍No certainty that any transaction will proceed and a further announcement will be made by Workspace if and when appropriate​.  Full Article

Workspace Group FY pretax profit falls
Wednesday, 7 Jun 2017 

June 7 (Reuters) - Workspace Group Plc ::FY ‍profit before tax of 88.8 mln stg, lower than 2016 due to a smaller uplift in property valuation​.FY ‍EPRA net asset value per share of 9.53 stg, up 3.3 pct​.‍A 40 pct increase in total dividend to 21.07p reflecting strong financial results and confidence in outlook for business​.FY underlying increase of 2.1 pct in property portfolio to 1,844 mln stg.FY ‍increase in total rent roll of 14.5 pct to 89.5 mln stg from rental growth at like-for-like properties, strong letting performance.FY loan to value at 13 pct with undrawn facilities (including cash) of £123m.‍"Despite uncertainty in market following eu referendum, we remain confident of our ability to deliver long-term value for shareholders" - CEO​."Continue to see healthy demand for our space and we have financial resources to take advantage of acquisition opportunities"."Have a strong pipeline of refurbishments and redevelopments expected to deliver more than 1 million sq. ft. Of new and upgraded space over next three years".‍Final dividend of 14.27 pence (2016: 10.19 pence) will be paid on Aug.7 to shareholders on register at July 7.  Full Article

Ex-divs to take 0.4 points off FTSE 100 on Jan. 11

LONDON, Jan 8 The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-makers would take 0.40 points off the index. COMPANY (RIC) DIVIDEND STOCK OPTION IMPACT (pence)