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Workspace Group PLC
Annual Report Summary 2023
HOME TO LONDON’S
BRIGHTEST BUSINESSES
It all starts with
the customer
Our purpose is to give businesses the freedom to grow. We believe that in the right space, teams can achieve more. That in environments tailored to their business, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential together.
We build long-term relationships with our customers to understand their evolving requirements and continually enhance the customer experience.
PND PHOTOGRAPHY
Workspace allows me to be myself, which is essential for my photography
READ CASE STUDY
PERFORMANCE
HIGHLIGHTS
FINANCIAL
Net rental income
Property valuation
Trading profit after interest1
OPERATIONAL
Like-for-like occupancy
Average lettings per month
Like-for-like rent roll growth
SUSTAINABILITY
Renewable electricity sourced
Scope 1 and 2 emissions reduction since 2019/20
Donated to single homeless project
1 A reconciliation of basic and diluted earnings to trading profit after interest is in note B to the financial statements.
Equivalent IFRS measure is profit before tax – 2023: £(37.5)m, 2022: £124.0m, 2021: £(235.7)m.
The Frames, Shoreditch
FROM OUR
LEADERSHIP
READ MORE IN OUR ANNUAL REPORTWorkspace’s business model has truly been put to the test over the past three years. I’m pleased to say that we have emerged in an even stronger position.”
Stephen Hubbard
Chair
READ MORE IN OUR ANNUAL REPORTOur strong trading performance is testament to our truly flexible offer and a customer base of vibrant SMEs”
Graham Clemett
Chief Executive Officer
The Light Bulb, Wandsworth
OUR PURPOSE
AND CULTURE
Our purpose has created a culture that puts our stakeholders at the heart of the way we do business.
READ MORE IN OUR ANNUAL REPORT
Our purpose is to give businesses the freedom to grow
We believe that in the right space, teams can achieve more. We provide customers with a blank canvas to create their own unique space – liberating them to express their identity and culture in a space, building and location that is right for them. We work hard to continually enhance and refine the customer experience, so that customers have the freedom to focus on growing their businesses.
We deliver our purpose by actively listening to our stakeholders to understand what matters most
Our purpose has created a culture that puts our stakeholders first. The conversations we have with our customers, people, investors, partners and communities, both in person and by collecting real-time data, directly inform our day-to-day decisions, help us to improve our offer and drive the growth of the business.
We put this at the heart of our strategy while giving customers to space to sustainably grow
Our strong sense of purpose places an emphasis on delivering exceptional customer service. Ownership of our buildings, an extensive portfolio, a continual pipeline of upgrades ensures we provide an unparalleled customer offer, cementing our position as home to London’s brightest businesses.
We know that our customers share the same values as us and prioritise sustainability. For them, it is important that their office provider is responsible; it is only by working together that we can meet our 2030 net zero carbon target.
The Frames, Shoreditch
