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LONDON - Workspace Group (LON:WKP) PLC announced Monday that small and medium-sized enterprises (SMEs) operating from its properties contribute over £2.2 billion in Gross Value Added (GVA) to London’s economy annually, according to the company’s 2025 socio-economic report.
The report, titled "Enabling a fairer, flatter London," also revealed that these businesses generate £45 million in business rates each year across the company’s more than 60 buildings in 18 London boroughs.
The data highlights the local economic impact of Workspace’s business model, with 37% of customers living within three miles of their workspace. These local customers collectively spend approximately £900,000 weekly in their surrounding neighborhoods, supporting local high streets and small businesses.
The report noted that nearly 20% of Workspace customers purchase goods and services from each other, creating what the company describes as a collaborative business ecosystem.
Over the past decade, Workspace has repurposed over 1.2 million square feet of historic London buildings into modern work facilities. These properties now include 34 cafés, 16 health facilities, and 135 shared community spaces accessible to both customers and local residents.
"For nearly 40 years, Workspace has played a unique role in powering SME growth, creating sustainable, accessible and affordable spaces where more people can participate in London’s success," said Sonal Jain, Workspace’s Head of Sustainability, in the press release.
The company currently houses nearly 4,000 businesses across more than 20 sectors in its properties throughout London.
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