Breaking Property News – 23/04/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace
Mobile access control integration makes entry to The Light Bulb building effortless for customers
London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider, HID, to make access to Workspace’s The Light Bulb building in South West London fast, simple and secure by making door access credentials available in Google Wallet for all SME customers who lease offices and studios at the centre.
Today, any registered Android smartphone user can gain quick and seamless access to The Light Bulb by holding their device near any NFC-enabled HID Signo reader, with doors then opening automatically. Smart Spaces is the first HID Technology Partner to carry out such a Google Wallet integration project, with Workspace the first customer in the world to benefit from this innovative technical collaboration.
A FTSE 250 company, Workspace owns and manages 4.6 million sq. ft. of flexible office space across 76 locations in London – home to some of the Capital’s brightest young companies who rent and design their own space and join a vibrant community of other businesses.
Chris Boultwood, Workspace’s Head of Technology, says, “Our customers are agile, ambitious SMEs who are digitally savvy, and we know how much they appreciate having ease of access to the building with just their phones. We’re always looking to make their experience as seamless as possible and the HID/Google Wallet door access is a natural step forward at The Light Bulb. We’re now excited to start rolling this out across other London locations.”
Smart Spaces’ OS is used by Workspace’s customers to not only access the building, but to book meeting rooms and receive information about events and activities happening onsite, with the software branded MyWorkspace.
Unlike issuing traditional plastic RFID access cards, shifting to digital offers self-service plus the seamless provisioning of credentials, making it far easier for all concerned – Workspace’s customers as well as onsite facility management staff.
“This partnership highlights our commitment to providing a wider range of secure and convenient mobile experiences for workspaces for all types of end users– from SMEs to larger enterprises. As we diversify and expand our mobile solutions portfolio globally, stay tuned to see more Google Wallet integrations in the coming year,” Sanjit Bardhan, HID’s Vice President & Head of Global Mobile Business.
Smart Spaces’ goal is to be the world’s leading smart building operating system for commercial real estate. Winners of the Santander Technology Business of the Year in 2023, a raft of prestigious projects in the UK now use its software which has put London centre stage of global smart building implementations.
Dan Drogman, Smart Spaces’ Chief Executive Officer, says, “At Smart Spaces, we continuously strive to provide the best possible user experience for our customers. The ‘tap and go’ functionality and convenience offered by Google Wallet provides this seamlessly. We’re delighted we’re the first to offer this to our customers.”
Property Franchise Group shows uptick in profits
Gareth Samples, Chief Executive Officer of The Property Franchise Group, said: “FY23 represents yet another year of record performance in which we have improved the quality of our revenue and adeptly executed our strategic roadmap, whilst continuing to navigate a challenging macroeconomic backdrop. This is testament to the quality and hard work of our team, with the progress made in the year leaving us with a solid foundation on which to grow further, bolstered by increasing revenue visibility for 2024 across a broader base.
“We are delighted to have completed the post-period transformational merger with Belvoir, marking a significant milestone in our journey to become one of the leading players in the UK property market. We see a huge opportunity for the Group, with increased scale, breadth of offering and diversity of brands, as well as enhanced geographic reach, whilst also providing us with a clear opportunity to accelerate growth in our Financial Services division.”
THE PROPERTY FRANCHISE GROUP PLC the UK’s largest multi-brand property franchisor, is pleased to announce its Final Results for the year ended 31 December 2023 (“FY23”).
| Group revenue increased to £27.3m (2022: £27.2m) |
| Management Service Fees (“MSF”) increased to £16.1m (2022: £15.9m) |
| Adjusted EBITDA increased to £12.1m (2022: £11.8m) |
| Adjusted operating margin of 42% (2022: 41%) |
| Profit before tax increased to £9.0m (2022: £8.8m). |
| Adjusted diluted earnings per share was 28.4p (2022: 28.4p) |
| Net cash of £5.1m at 31 December 2023 (2022: £1.7m) |
| Dividend paid and declared for FY23 of 14p (2022: 13.0p) |
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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