Founded in 1987 by the privatisation of property assets of the former Greater London Council, the company lets office, industrial and workshop space to small and medium-sized enterprises.

[3] Financed by a group of twelve investors, the company acquired 18 properties from the London Residuary Body,[3] which was charged with disposing the GLC's assets.

The firm listed on the London Stock Exchange in 1993 with a market cap of around £813 million,[4] and subsequently expanded geographically with the purchase of industrial estates in the West Midlands.

[5] The £80 million purchase of 23 London properties from Tonex in 1999 increased the Workspace portfolio by 40%,[6] while the Midlands investments were sold off two years later as the group chose to concentrate on the capital region.

[3] Along with eight other major British property companies, Workspace converted to real estate investment trust status upon their introduction to the UK in January 2007.