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Workspace Group Plc (WKP.L)

Real Estate Out of favour

Workspace Group rents out flexible, stylish offices to ambitious small businesses across London.

By the Sterling Almanac editorial team · plain-English, education only · how we check the numbers

£3.51
≈ 351p · London-listed shares are usually quoted in pence (GBX) elsewhere; the Almanac shows pounds (£1 = 100p).

Is Workspace Group Plc a good stock for a UK beginner?

The honest version: Workspace Group rents out flexible, stylish offices to ambitious small businesses across London.

No rating · no target price · nothing for sale here
Price-42.7%
52-week range-13% past year
£3.51
Low £3.12High £4.34
Where today's price sits versus its past year - context, not a signal.
If you had put £1,000 into Workspace Group Plc
£573-43%

Over about 2 years to 2026-07-31. This is the share price only - reinvesting the dividends would add to it. Past performance is not a guide to the future, and it could just as easily have fallen.

Market cap: The company's total value on the stock market - share price times the number of shares. Big = 'large-cap', small = 'small-cap'.
£675.81M
Avg volume: How many shares change hands on a typical day. Higher means it's easy to buy or exit without moving the price.
936.30K
Day range: The lowest and highest price the shares traded at during the latest day.
£3.45 – £3.56
52-week range: The lowest and highest the shares have traded over the past year - a sense of how wide the swings have been.
£3.12 – £4.34
Dividend yield: The yearly dividend as a percentage of the share price - roughly the income you'd earn from dividends alone.
7.4%
Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down.
1.08
How bumpy is it?Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down. 1.08
Calm
Wild
Roughly in step with the market

Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.

Why has it been moving?▼ -1% past week · ▼ -13% past year

Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.

The bull case

A complete revival in London commercial real estate closes the gap between share price and asset value.

The bear case

Structural shifts toward remote work permanently shrink the appeal of traditional office rentals.

What does Workspace Group Plc do?

Thousands of growing London startups, creators and independent businesses pay monthly rent to Workspace for physical office space and community hubs. The business collects this cash to fund its property empire, though property valuations have recently taken a knock. Keep a close eye on customer occupancy rates, as empty desks directly hurt the bottom line.

VQGMI
Factor profile

On our factor screen it looks strongest on income and value, and weakest on growth.

Value: How cheap the stock looks versus profits, sales and assets (higher = cheaper). 39Quality: How profitable and financially healthy the company is (higher = stronger). 33Growth: How fast revenue and earnings are growing (higher = faster). 16Momentum: How the share price has been trending recently (higher = stronger recent run). 23Income: The dividend income on offer and how sustainable it looks (higher = more/steadier). 48
Quick checks
What's strong
  • Owns a valuable portfolio of physical London real estate
  • Attractive dividend income potential for income-focused portfolios
  • Strong gross margins on rental operations
What to watch
  • Growth screens low (16/100)
  • Momentum screens low (23/100)
  • Falling property valuations can hurt the balance sheet
  • Higher borrowing costs for property maintenance and debt
  • Economic downturns disproportionately affect small business tenants

What do Workspace Group Plc's numbers mean?

Forward P/E
16.8
This compares the share price to expected future profits, showing how many pounds investors are paying for each pound of forecasted earnings.
Price to Book
0.5
At 0.5, the market is valuing the company's shares at half the net value of its physical bricks and mortar, suggesting deep scepticism from investors.
Dividend Yield
7.4%
A chunky percentage paid back to shareholders as cash dividends over the year, though high yields sometimes signal that the market worries about future stability.
Gross Margin
62.5%
For every pound of rent collected, over 60 pence remains after covering the direct operating costs of running the buildings.

Does Workspace Group Plc pay a dividend?

Yes - Workspace Group Plc currently pays a dividend of about 7.4% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.

When does Workspace Group Plc report earnings, and how did recent quarters go?

Workspace Group Plc is next scheduled to report on about 2026-11-19 - dates can move, and we don't predict results; this just tells you when to look.

Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.

See who else reports over the next two weeks →

Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.

More in Real Estate

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Appears in
Dividend shares, explained for beginners

What are the scenarios for Workspace Group Plc?

An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.

£4£4£3today · £4▲ Bull · £4• Base · £4▼ Bear · £3in 1 yearILLUSTRATIVE · NOT A PREDICTION OR PRICE TARGET
Bull
+10% to +20%London office demand rebounds faster than expected and property values stabilize.
Base
-5% to +5%Occupancy stays steady and rental income ticks along without major surprises.
Bear
-15% to -25%Commercial property values drop further and tenants cut back on space.

What are the pros and cons of Workspace Group Plc?

3bull points
6bear points

How many points the write-up makes each way — a balance check, not a score or verdict.

The bull case3
  • Owns a valuable portfolio of physical London real estate
  • Attractive dividend income potential for income-focused portfolios
  • Strong gross margins on rental operations
The catch3
  • Negative net margins and return on equity: How much profit the company makes for each £1 shareholders have put in. Higher usually means a more efficient business. show recent unprofitability
  • Shrinking year-on-year revenue highlights tough trading conditions
  • High sensitivity to commercial property market downturns
Key risks3
  • Falling property valuations can hurt the balance sheet
  • Higher borrowing costs for property maintenance and debt
  • Economic downturns disproportionately affect small business tenants
What would flip the thesis

The write-up's own warning lights — if these start happening, the case above changes.

Confidence: medium · data: GBP · flags: pe, earnings_growth · Charts by TradingView Lightweight Charts™
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Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →

This plain-English summary was auto-generated on 2026-08-02 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.

Figures as of 2026-08-02. Prices may be delayed and numbers can go stale - always double-check before acting.