Flexible leases will be a boon in the post-pandemic market: Workspace

18 Nov 2021 CW Team

On Wednesday, Workspace, the London-focused office-space provider, said that the demand for its flexible leases, which allows tenants to extend or decrease space instantly, will be an advantage in the post-pandemic market.

Office space operators are meeting a rocky road to recovery after battling lower rental levels and steep valuation dips in the wake of the pandemic when clients moved to remote working or downsized or vacated spaces. Workspace, which renders unfurnished spaces to customers ranging from architects and florists to craft beer brewers and app developers, essentially has two-year, short-term leases with a chance for a six-month rolling break.

Chief Financial Officer Dave Benson told the media that the customers have the chance to increase or cut the space quickly, and they do not have to wait two years or even six months. Workspace recorded a pretax profit of 3.4 million pounds for the six months ended Sept. 30, its first profit since the pandemic against the loss of 110.4 million pounds a year back.

Peel Hunt analysts told the media that Workspace is without a doubt on the road to improvement, but they believe it will take some time. But, the rent roll remains about 25% below its pre-Covid level, and the valuer proceeds to mark down the portfolio, driven by decreasing market rents. Workspace shares were down 1.3% as of 1242 GMT.

The FTSE 250 firm, which helps small and medium-sized companies, has some 3,000 customers and holds 40 million sq ft space across 60 buildings in London. Workspace said that return-to-office trends after the lifting of Covid-19 curbs in England had so far focused on clients from e-commerce, tech and fashion design sectors. The firm registered usage of its centres at around 55% of pre-pandemic levels. It additionally declared the procurement of smaller rival The Bus works in Islington for 45 million pounds.

Image Source

Infrastructure Energy

23 Oct 2025

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..