Company behind Wandsworth Business Village reports good year for regeneration

Workspace Group, the company behind regeneration projects such as the Wandsworth Business Village, has announced that an increase in profit before tax of almost 100%.

The company has posted its financial results for the year ending 31 March 2011, with an increase of profit before tax by £27m from £26m to £53m, net cash up 45% to £16.1m and overall occupancy up 2.2% to 84.1% for the year.

Chief executive of Workplace Harry Platt said:

“Our results for the year demonstrate our ability to drive occupancy, rental income and regeneration opportunities. Looking to the future, we have a solid platform from which to create further value. London is recovering well and our customers, SMEs across London are contributing to this.”

Highlights this year include the achievement of mixed-use planning consent for Bow Enterprise Park and re-designation of 7 acres at Tower Bridge Business Complex for residential use.

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