BLOCK_MIP_TNT_0725

BLOCK Workspace Taunton Ltd

June 2025

EXECUTIVE SUMMARY Taunton continues to perform strongly, maintaining a high occupancy rate of 97%. The coworking sector has experienced an increase in demand, indicating positive growth trends. Regus has announced the opening of a new site at Blackbrook Park, adding to the competitive landscape.

Additionally, two of our larger spaces are expected to become available in the autumn, and our current efforts are concentrated on preparing and marketing these spaces effectively.

KEY PERFORMANCE INDICATORS 01.

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Desk Occupancy Rate

New Memberships Added

Churn Rate

Revenue per Workspace

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Desk Occupancy Rate

New Memberships Added

Churn Rate

Revenue per Workspace

UPDATES Operations → Costings have been finalized to proceed with the creation of additional offices. While some space will become available soon, the consistent 100% occupancy rate at our Taunton location reinforces the need for this expansion. We remain confident that additional capacity is both justified and aligned with ongoing demand.

Sales & Marketing → While only one office is currently available, we anticipate two larger spaces may become vacant this autumn due to downsizing or planned departures. Although we’ve not yet received formal notice, we are actively marketing the potential availability. We are currently managing three live enquiries — one of which is for a 20-desk space — reflecting ongoing demand and positive pipeline activity.

Customer Success → Recent member events — including the Wimbledon networking event, Learn to Paint workshop, and an ice cream van visit — have received excellent feedback. These initiatives continue to deliver meaningful enrichment and foster a strong sense of community among our tenants.

FINANCIAL PERFORMANCE

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Profit and Loss

Balance Sheet

Cash Flow

Budget vs Actual Analysis

Profit and Loss → 2025/26

Profit and Loss → 2024/25

Prior Year Comparison

KEEP MOVING FORWARD.