Workspace claws in 75% of rents despite discounts

Workspace Group has collected just 75% of rent owed in the three months ended 30 June, despite halving the cost of membership during the period. The flexible office provider also said it has received 65% of rents due for the second quarter to date, compared with 80% at the same time last year. Customers are slowly returning to its business centres, with occupancy at around 15% of usual levels. During the first quarter, the landlord reported like-for-like occupancy declines of 3% to 90% as existing customers reviewed their space requirements. It had 765 new enquiries in June, up from 272 in April. This compares with a monthly average of 1,060 enquiries for the first quarter of last year. Chief executive Graham Clemett said: “We expect to see continued pressure on occupancy levels in the short term. However, we are encouraged by the early signs of a recovery in business confidence, with improving levels of enquiries, viewings and lettings.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette