Latest news with #flexibleoffices
Yahoo
16-05-2025
- Business
- Yahoo
Workspace warns higher costs and lower rents to hit profits next year
London flexible office company Workspace has warned that higher labour costs and larger companies leaving offices is set to hit its profits in the year ahead. Shares in the firm tumbled by about 12% on Friday morning. The business has previously said confidence among some of its customers has been weakened by wider economic uncertainty. This has led to some larger companies exiting offices and work spaces they rent through Workspace, and a lower rent income at the start of the financial year. Workspace owns a portfolio of about 70 properties across London and the south-east of England, providing units to more than 4,000 businesses. Over the first three months of the year, rents totalled £139 million, slightly higher than the previous quarter. But the company said it is grappling with higher business costs including national insurance contributions and living wages, which both increased from April, as well as additional costs to refinance the business. On Friday, Workspace said it is expecting the combined impact of these factors to impact its trading profit for the year to the end of March 2026 by about £7 million. It had previously been expecting profits to come in between £66 million and £72 million. It is nonetheless still expecting profits for the latest year to meet forecasts, and is set to unveil plans to bring in more businesses and grow its income in its full-year results announcement in June. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
16-05-2025
- Business
- The Independent
Workspace warns higher costs and lower rents to hit profits next year
London flexible office company Workspace has warned that higher labour costs and larger companies leaving offices is set to hit its profits in the year ahead. Shares in the firm tumbled by about 12% on Friday morning. The business has previously said confidence among some of its customers has been weakened by wider economic uncertainty. This has led to some larger companies exiting offices and work spaces they rent through Workspace, and a lower rent income at the start of the financial year. Workspace owns a portfolio of about 70 properties across London and the south-east of England, providing units to more than 4,000 businesses. Over the first three months of the year, rents totalled £139 million, slightly higher than the previous quarter. But the company said it is grappling with higher business costs including national insurance contributions and living wages, which both increased from April, as well as additional costs to refinance the business. On Friday, Workspace said it is expecting the combined impact of these factors to impact its trading profit for the year to the end of March 2026 by about £7 million. It had previously been expecting profits to come in between £66 million and £72 million. It is nonetheless still expecting profits for the latest year to meet forecasts, and is set to unveil plans to bring in more businesses and grow its income in its full-year results announcement in June.
Yahoo
08-05-2025
- Business
- Yahoo
The Office Providers Launches Extensive Frankfurt Office Space Directory
Frankfurt FRANKFURT, Germany, May 08, 2025 (GLOBE NEWSWIRE) -- As businesses become more mobile and adapt to a new global playing field, The Office Providers has introduced a new tool that simplifies how businesses access and compare flexible office space in Frankfurt. The directory profiles international providers like Fora and Spaces, and European and Frankfurt office providers offering private serviced offices, managed office spaces, coworking spaces, and other flexibly occupied workspaces. Each profile listing is curated to include key factors like location, pricing models, contract flexibility, and service inclusions to assist in comparing available workspace options in the German city. Mike Gardener, Founder and CEO of The Office Providers, said: 'Relatively recently, following Brexit, businesses and organisations learned the importance of being agile. For instance, it was no longer appropriate for a European agency to be headquartered in the UK capital, so they had to find a new European base quickly. 'We recognised the need for a central point where people can compare flexible office space and find something best suited to their needs. Frankfurt is increasingly popular with various sectors, including banking and finance. It is home to so many financial institutions that the German city has earned the moniker 'Bankfurt'. 'Also, as the flexible office space and workspace market in Frankfurt matures, more businesses are committing to flexible office space long term.' In April, investment company BlackRock advised that it could not find office space quickly enough in London for its 3,000-desk requirement, so it immediately expanded its search parameters to include a handful of European cities, including Frankfurt. Following the announcement of adaptations to historic inter-country trade deals, other companies from diverse sectors are readying themselves for potential office moves to more business-friendly geographies. Mike Gardener added: 'The market has evolved to offer ESG-considered, client-branded, tailored spaces with enterprise-grade amenities and outsourced facilities management. Our aim is to aggregate these into one place, enabling companies to easily find the right flexible space for them.' A photo accompanying this announcement is available at CONTACT: CONTACT Mike Gardener COMPANY: The Office Providers EMAIL: contactus@ WEB: in to access your portfolio
