Workspace climbs on lettings and building completions

Shares in office-focused REIT Workspace (LON:WKP) rose by 1.42% to 890p (as of 11:45 BST) following the release of an update for the three months ended 30th June. The company said that lettings were up by 37.5% year on year and it completed two new buildings during June that added 80,000 square feet of office and studio space to its portfolio.

Interim CEO Graham Clemett commented: “It has been a busy and successful quarter for the Company. Our distinctive flexible offer continues to attract strong demand from a broad range of customers, despite the challenging economic environment.

“Our completed projects are letting up well and we are progressing at pace with the delivery of our project pipeline. Alongside this we remain well positioned to take advantage of acquisition opportunities but remain rigorous on our return criteria“.