London Reit Workspace's NAV soars

[LONDON] Britain's Workspace Group plc reported a 43 per cent jump in full-year net asset value as the landlord saw an increase in occupancy and charged higher rates in a recovering commercial property market.

The real estate investment trust, which provides office spaces to small businesses, said EPRA net asset value - a key measure of industry performance - rose to 496 pence per share in the year to March 31 from 348 pence a year earlier.

EPRA (European Public Real Estate Association) net asset value excludes market adjustments of effective cash flow hedges, deferred tax relating to revaluation movements and capital allowances and derivatives.