Workspace PLC sees interest in offices revive as economy opens up
It is now seeing occupancy stabilise and anticipates a recovery in occupancy levels
Workspace PLC () said customer enquiries had picked up in the last three months as the economy starts to reopen again.
The serviced offices group said average monthly enquiries averaged 910 in the quarter to end-April with average monthly lettings at 111 compared with 720 and 71 three months earlier.
Use of business centres has also increased, said Workspace, with occupancy up to 30% of pre-COVID-19 levels from 20% at end-March.
Rent collection was consistent, the FTSE 250 group added, with 92% of rent due for the fourth quarter of 2020/21 now collected and 84% of this quarter’s.
Graham Clemett, chief executive, said: “It is early days, but with increasing demand and a reduction in customers vacating, we are now seeing occupancy stabilise and anticipate a recovery in occupancy levels at our centres during the current financial year.”
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