I saw reported in May 30 Estates Gazette that Patrick Marples is leaving Workspace. Workspace is an interesting company. I had a few shares in my SIPP for a while, but sold when the price got too high and the yield below 2%. Not really a business centre company, more of a managed workspace owner, its main focus has always been on the value of the real estate rather than on the service income.

Over the years I have had various conversations with Harry Platt, the CEO about the nature of Workspace as in many senses it is a property company, though Harry always denied this claiming it is a "property based service business". The market seems to have viewed it as a property company and it has suffered from the general malaise in the sector particularly as most of its assets are sub prime and sub prime assets have fared worse than prime properties.

I see that DTZ are claiming that City real estate now offers good value as the prices have fallen so far (FT 8th June) but that the rest of the world has further to fall. Anglo-centric? Moi?

Anyway returning to Patrick, he was a fairly classic chartered surveyor in outlook and his presence seemed to confirm the focus on real estate values. I wonder if his departure is just cost cutting or a change in emphasis?