Workspace posts rise in quarterly rent on rising London demand

Fri Jan 24, 2014 2:30am EST

Jan 24 (Reuters) - Workspace Group Plc, a landlord for small businesses, said third-quarter rent per square foot rose 1.9 percent, boosted by stronger demand in London's growing real estate market.

The real estate investment trust provides office space to businesses under flexible lease agreements.

It said like-for-like rent roll - the rent received from each tenant - rose 1.8 percent to 0.9 million pounds ($1.50 million) in the three months ended Dec. 31..

Occupancy remained stable at 90.7 percent, Workspace said.