Workspace announces further support for customers

RNS Number : 9542J

Workspace Group PLC

17 April 2020

 

London, 17 April 2020

WORKSPACE^® GROUP PLC  

ANNOUNCES FURTHER SUPPORT FOR CUSTOMERS

Workspace Group PLC ("Workspace" or "the Company"), one of London's leading suppliers of flexible office space, today announces further support for customers affected by COVID-19.

The Government restrictions on movement announced on 23 March 2020 have had a material effect on the businesses of many of our customers, and we have received a large number of requests for various forms of rent relief. As previously announced, Workspace is already offering customers, on a case by case basis, the opportunity to defer a proportion of their rental payments. We are pleased to announce that the Company is also now offering customers, in its business centres affected by the Government restrictions, a rent reduction of 50 per cent. during the lock-down period.

Graham Clemett, Chief Executive Officer, said:

"This is a very challenging time for all businesses, with many suffering immediate and significant reductions in income and adverse cashflow. While the Government is providing a number of options to help businesses through this period, we have also been exploring ways of supporting our customers.  We appreciate that for many customers this will only be the start of a very challenging time, and it is right that we share that burden with customers."

--ENDS--

For further information, please contact:

Workspace Group PLC Cynthia Alers, Interim Head of Investor Relations	[phone] [phone]
Edelman	[phone]
John Kiely
Rob Yates

Notes to Editors

About Workspace Group PLC:

Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages some 4 million sq. ft. of business space in London. We are home to thousands of businesses, including fast growing and established brands across a wide range of sectors.

Workspace is geared towards helping businesses perform at their very best. We provide inspiring, flexible workspaces in dynamic London locations.

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, United Kingdom

LEI: 2138003GUZRFIN3UT430

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

 

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