05 Jan | Sale – Workspace Group
The second of our eight transactions for late December was the sale of part of our holding of Workspace Group – the London-based provider of space to small and medium-sized enterprises (SMEs) across the capital.
We sold 2,300 shares at 23.78 pence a share on 17th December 2010 after buying in 4,300 shares at 22.87 pence in October 2010. After costs we’ve probably broken even.
I still think that Workspace Group is undervalued and has great potential in the mid to long term – especially with the London Olympics on the horizon – but for the past six months it’s been trading in a pretty tight range and I can’t see anything changing that in the short term.
We still hold 2,000 shares but to be honest I think they may be turned to cash and re-settled elsewhere some time soon.
Here’s our original reasoning for purchasing Workspace Group. I’ve got to admit, I still like the look of that chart, hmmm!
Workspace Group is still on the Investor Trader Radar but we’ll probably need to see it break 30 pence before we’d consider buying back in.