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

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Coming back to the ME office, the landlord said the owner of the workspace that he had reported pick-up in rent and use of the building.

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“There are positive signs of momentum,” Graham Klemet said, with more than 1,000 inquiries, 633 views and 175 lettings agreed to on their sites last month. He said that was better than what was seen in the pre-pandemic.

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The company, which has offices in 60 locations in London, offers flexible leases, typically two years with the option to exit after six months, and the scope to take up additional space if needed. It is popular among start-ups and SMEs.

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

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It also said that there has been a significant increase in tenants returning to offices in the three months, with the use of the centers reaching 56% of the mid-week pre-Covid levels and 52% in the full week by the end of September.

The update comes as bosses make office plans after the pandemic, with many employees wanting a mix of home and headquarters hours.

Klemet said Workspace is well positioned to benefit from those seeking flexibility.

Boss added: “It is great to see London come back to life, and our latest usage and occupancy figures show that London SMEs are back in office and are optimistic about the future.”

The firm’s shares gained 15p to 813p.

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