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Workspace Group PLC (WKP.L)

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Latest Key Developments (Source: Significant Developments)

Workspace Group completes of 200 mln stg private placing
6:19am EDT 

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 02:00am EDT 

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 02:33am EDT 

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 02:00am EDT 

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 02:00am EDT 

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 02:00am EDT 

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 02:00am EDT 

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

Workspace updates on disposal of uplands business park
Wednesday, 17 May 2017 02:00am EDT 

May 17 (Reuters) - Workspace Group Plc :Announces simultaneous exchange and completion of contracts for disposal of uplands business park in Walthamstow, e17, for 50 million stg.  Full Article

Workspace Group exercises option to acquire freehold of 13-17 Fitzroy Street
Wednesday, 29 Mar 2017 02:00am EDT 

Workspace Group Plc :Exercised its option to acquire freehold of 13-17 Fitzroy Street, W1, for 98.5 mln pounds from Arup.  Full Article

Workspace Group buys London property for 98.5 mln stg
Friday, 24 Feb 2017 02:00am EST 

Workspace Group Plc : Signed an option agreement for right to acquire freehold of 13-17 Fitzroy street, W1, for 98.5 mln stg . Building is being acquired at a capital value of 1,063 stg per sq.ft. And a net initial yield of 4.6 pct .Transaction will be funded from existing facilities.  Full Article

BRIEF-Workspace Group completes of 200 mln stg private placing

* ‍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​ Source text for Eikon: Further company coverage: