Forget about the drop in headline profits at Workspace (WKP); that's only because the previous year's portfolio value uplift of £297m was less in the year to March 2017, at £40m.
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More importantly, the key metrics all pointed to another positive performance from the small business landlord, with the total rent roll growing by 14.5 per cent to £89.5m, thanks to a strong letting performance at recently completed projects and a 12.9 per cent jump in like-for-like rent per sq ft to £28.17. A sharp increase in the dividend means that the total payout has nearly doubled since 2015.