Workspace accelerates asset sales to fend off Saba Capital takeover

Saba Capital Management, which recently upped its stake to 29.1%, is spearheading a campaign to overhaul the board and accelerate strategic reforms. The activist investor argues that Workspace’s valuation, currently trading at a roughly 50% discount to net asset value, is the direct result of prolonged underperformance. In June, Saba proposed a specific roadmap involving the sale of 56 properties to unlock value.

Workspace Chief Charlie Green defended the firm’s current trajectory, insisting the existing management team possesses the right strategy to maximize long-term returns. Despite this, the company has been aggressively offloading inventory, completing £138.4 million in disposals since April 2025. Shares in the FTSE 250 company climbed 2% in early trading following the update, as investors weigh the company's defense against Saba’s demands for a leadership shake-up.