Booming Workspace hails the entrepreneurial spirit

London's budding entrepreneurs are showing little sign of the economic jitters besetting the wider economy, Workspace chief executive Harry Platt said today.

The property firm, the capital's biggest provider of space to small businesses, is seeing rent levels, enquiries from prospective tenants and occupancy rates all heading in the right direction.

Platt said: "The business is performing on all fronts. We've seen eight quarters of consistent growth in occupancy. There's a real buzz around our trading estates.

"The economy's all about London at the moment and it's small businesses which will drive the recovery."

Workspace, which signalled its confidence with a 10% dividend hike, said pre-tax profits in the year to March more than doubled to £52.8 million, largely driven by rising property prices.

The group's £543 million portfolio of studios and workshops across the capital is 86% occupied
and it is closing in on its 90% target.

The firm plans to expand its business portfolio through a £100 million joint venture with investment giant BlackRock, which is eyeing "half a dozen" acquisition targets over the next
six months.

Platt will hand over the reins next year after 15 years in charge.