Company Announcements

7 July 2025

WORKSPACE GROUP PLC

WORKSPACE'S SME CUSTOMERS CONTRIBUTE OVER £2.2 BILLION IN GVA EVERY YEAR: POWERING LONDON'S FUTURE FROM THE GROUND UP

·   Workspace SME customers contribute over £2.2bn in GVA (Gross Value Added) and £45 million in business rates every year, powering London's economy

·   37% of Workspace customers live locally, spending nearly £1m in local neighbourhoods each week, helping to sustain high streets and local businesses

·  c.20% of Workspace customers purchase goods and services from each other, nurturing a collaborative ecosystem

Workspace Group PLC ("Workspace"), London's leading owner and operator of flexible and sustainable work space, today publishes its 2025 socio-economic report: Enabling a fairer, flatter London. With more than 60 buildings across 18 boroughs, Workspace continues to be a driving force behind London's local growth - with its SME customers contributing over £2.2 billion in GVA and £45 million in business rates each year.

From Hackney to Lambeth, Islington to Brent, the report reveals how Workspace is driving local impact in a global city. 37% of Workspace customers live within three miles of their chosen Workspace building and collectively spend £900,000 each week in their local areas, helping to sustain high streets and small businesses. 

Rooted in a model of adaptive reuse and sustainable regeneration, Workspace has transformed over 1.2 million sq. ft. of historic London buildings over the last ten years into vibrant, future-fit work spaces. These buildings serve not just as work spaces, but as social infrastructure - with 34 cafés, 16 health facilities, and 135 shared community spaces, all open to customers and local residents alike.

The sense of community runs deep at Workspace. Regular events and a collaborative atmosphere mean that nearly 20% of customers trade with one another, forming a powerful network of London's brightest businesses.

The report's findings underscore Workspace's commitment to enabling a fairer, flatter London - fairer, by creating accessible, affordable spaces where more people can participate in the city's success; and flatter, by expanding opportunity beyond the city centre, supporting enterprise and community in the boroughs where it's most needed.

With nearly 4,000 fast-scaling businesses across 20+ sectors now calling Workspace home, the Group remains focused on strategically investing in high-quality, sustainable buildings that fuel London's growth from the ground up.

Sonal Jain, Workspace's Head of Sustainability, commented:

"For nearly 40 years, Workspace has played a unique role in powering SME growth, creating sustainable, accessible and affordable spaces where more people can participate in London's success. We believe that when our communities thrive, so do we. And that's why we continue to invest in local people and places to help shape a fairer, flatter London."

Explore the full report to learn more about Workspace's impact here.

ENDS

For media and investor enquiries, please contact:

Workspace Group PLC                                                            

Clare Marland, Head of Corporate Communications                                       020 7138 3300

FGS Global

Chris Ryall                                                                                                        020 7251 3801

Emma Black    

Notes to Editors

About Workspace Group PLC:

Workspace is London's leading owner and operator of flexible workspace, managing 4.3 million sq. ft. of sustainable space with 73 core locations in London and the South East.

We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.

We have a unique combination of a highly effective and scalable operating platform, a portfolio of distinctive properties, and an ownership model that allows us to offer true flexibility. We provide customers with blank canvas space to create a home for their business, alongside leases that give them the freedom to easily scale up and down within our well-connected, extensive portfolio.

We are inherently sustainable - we invest across the capital, breathing new life into old buildings and creating hubs of economic activity that help flatten London's working map. We work closely with our local communities to ensure we make a positive and lasting environmental and social impact, creating value over the long term.

Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust (REIT) and a member of the European Public Real Estate Association (EPRA).

Workspace® is a registered trademark of Workspace Group Plc, London, UK.

LEI: 2138003GUZRFIN3UT430

For more information on Workspace, please visit www.workspace.co.uk