33% Drop in Office Space Portfolio Value for Workspace

Flexible office space operator Workspace has announced a 33% drop in property value as the company’s net asset value for the year to 31^st March fell by a massive 88%.  The operator has blamed the impact of the recession on the property sector for the poor results and says that it has reduced overheads to focus on cash ongoing.  With a substantial London based portfolio the group offers a range of commercial accommodation from work shops and light industrial to serviced office space.