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Workspace CEO: London’s SMEs are leading the way back to the office

·1-min read
Workspace has a number of office sites across London (Workspace)
Workspace has a number of office sites across London (Workspace)

SMEs are leading the way back to the office, the boss of landlord Workspace said as he reported a pick-up in lettings and building use.

Graham Clemett said “there are positive signs of momentum”, with over 1000 enquiries, 633 viewings and 175 lettings agreed at his sites last month. He added that was better than what was seen pre-pandemic.

The company, which has offices across 60 locations in London, offers flexible leases, typically two years with options to exit after six months, and scope to take on extra space when needed. It is popular with start-ups and SMEs.

FTSE 250 firm Workspace said like for like occupancy across the estate was up 2.7% to 85.6% in the second quarter to September 30.

It also said there was a significant increase in tenants returning to offices over the three months, with use of centres by the end of September peaking at 56% of pre-Covid levels mid-week, and 52% over the week as a whole.

The update comes as bosses draw up post-pandemic office plans, with scores of employees wanting a mix of home and HQ hours.

Clemett said Workspace is positioned well to benefit from occupiers wanting flexibility.

The boss added: “It’s great to see London coming back to life, and our latest utilisation and occupancy figures show that London’s SMEs are leading the way back to the office and are optimistic about the future.”

Shares in the firm gained 15p to 813p.

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