Annual Report and
Accounts 2019

We invested in assets

Launched The Frames in Shoreditch

A brand new 50,000 sq. ft. business centre, doubling the size of the former building, this £25m refurbishment project completed in September 2018. The centre immediately captured the imagination of London’s businesses and is already 86% occupied.

We invested in assets

Refurbished and launched Edinburgh House in Vauxhall

Owned since 2015 and previously let in its entirety to the Metropolitan Police, we carried out a £20m refurbishment to create a state-of-the-art, 65,000 sq. ft. business centre, with a new triple-height, light-filled central atrium. Launched in September 2018, it fast became a destination for Vauxhall’s small businesses and is now 60% occupied.

We invested in assets

Acquired The Shepherds Building

Acquired in September 2018 for £125.3m, in Shepherd’s Bush, an increasingly attractive location for the entertainment and media industries. The 150,000 sq. ft. building is being progressively repositioned as a Workspace business centre.

Defining and introducing our four values

Last year we introduced our four values and embedded them in the business. Managers across the company held workshops for the teams to discuss what the values meant for their area of the business and day to day behaviours. The workshops threw up some fantastic ideas which are now being rolled out across the business.

We got a litle bit crazy

Customer insights continued to drive decisions

Understanding our customers

The wealth of data that we collect from enquiries, viewing feedback, customer surveys and use of facilities, such as meeting rooms, allows us to regularly adapt our offer. It also helps drive decisions, such as which locations to refurbish next.

Customer insights continued to drive decisions

Helping customers expand

Our flexibility helped Pulse Live, a customer based at Kennington Park to grow with us. Pulse have moved from a 4,000 sq. ft. unit to 8,000 sq. ft. in the newly refurbished Edinburgh House.

We’re innovating to keep up with changing ways of working

80% of our customers now connect to our network wirelessly. We are therefore investing more than £1m a year in upgrading the capacity and security of our wireless technology to give customers the freedom to work without limits anywhere in the building.

We asked what's next?

We deepened our expertise

Investing in talent

To keep ahead of demand we strengthened our marketing team during the year, adding a new Enquiries Manager and further team members with expertise in digital marketing, content creation and converting enquiries in to viewings.

We deepened our expertise

Training and development

We run a regular programme of training for our centre managers and other site staff. Topics covered during the year included customer service, networking events and social media.

We deepened our expertise

In-house expertise

In today’s increasingly regulatory environment, it is vital that Workspace stays on top of changing regulations and best practices. To support our strategy, we strengthened our in-house governance and compliance expertise by hiring Kelly Carmichael as Head of Legal and Assistant Company Secretary,

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Continiung to build
a great business

What we achieved in 2018/19

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To help deliver The
Workspace Advantage for
the long-term

Understanding now and next

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