needspace?
In 2010, through expansion of its property portfolio and boosted occupancy rates, the capital employed in the business almost doubled to £13.3m, returning a profit of £0.1m (2009: loss of £0.1m). In June, Needspace? became wholly internally funded, with the balance of external debt of £4.6m being fully repaid.
During the year, we saw a significant increase in new business start ups. Economic recovery and the government’s localism policies will further stimulate Neighbourhood businesses and drive new demand for affordable space. These factors will underpin our expansion plan as we look to add further centres to the Needspace? portfolio.
Annual Result highlights for NeedSpace? include:
- £13m capital employed 2010
- 82,553 sq ft of good quality accommodation
- 85% occupancy in 2010
view annual report 2010
