UK based Flex Operator Workspace Group Accelerates €235M Disposal Strategy with €62.5M in Recent Property Sales

London-based flexible office operator Workspace Group PLC has advanced its asset disposal plan with the sale of five properties across the capital, aligning with its “Fix, Accelerate and Scale” strategy.

The company is targeting the disposal of around €235 million (£200 million) worth of what it describes as “low-conviction” assets within two years.

On December 11, Workspace announced the exchange of contracts for two properties in London. This followed an earlier disposal announced on November 26.

In total, Workspace has now completed or exchanged property sales worth €62.5 million (£94.1 million) in 2025 to date. The company has confirmed that additional assets are currently under offer as it works toward its long-term disposal target.

Last year, Workspace Group had seen a drop in its average occupancy rate.

According to CEO Lawrence Hutchings, the disposals are part of a “conviction-led approach to portfolio management,” identifying properties that are no longer aligned with Workspace’s core operational strategy. “We’re recycling capital out of lower-performing assets to focus on buildings where customer demand and financial returns are strongest.”

Workspace Group was founded in 1987 and has been listed on the London Stock Exchange since 1993. The company owns and manages approximately 400,000 m² (4.3 million sq ft) of office and mixed-use space across 65 locations in London and the South East.

Its customer base includes around 4,000 businesses, ranging from startups to established companies. Workspace operates under an ownership model that allows it to offer flexible leasing, alongside amenities that include meeting rooms, breakout areas, and on-site management. It positions itself as a provider of “blank canvas” offices that tenants can tailor to suit their needs, with the option to scale up or down within the network.