Our financial strategy is primarily focused on generating sustainable income.

Since the global financial crisis, we have prudently managed our balance sheet with a mixture of bank debt and private placements. More recently, we successfully raised £300m via a green bond. We have a broad spread of maturities and all our debt is unsecured. We have significant headroom on our covenants, low loan to value of 24% and, as at 31 March 2021, £434m of cash and available facilities to pursue growth opportunities.

We own our properties for the long term and invest in our programme of refurbishment and redevelopments to drive rental growth and enhance valuations. It is this combination of income and capital value growth that makes Workspace a compelling investment.

Owning our assets outright gives us control. We are not constrained and can adapt the properties and our offer to meet fast-changing customer demands. Our efficient and scalable platform enables us to grow the business over time without significantly increasing operating costs.