FROM WOTSO PROPERTY TO WOTSO
WOTSO sharpens branding to reflect shift from property to people
From property to people. WOTSO (ASX: WOT) has formally dropped ‘Property’ from its name to reflect its transformation into one of Australia’s leading flexspace operators.
Just over 10 years ago WOTSO was a traditional property company, buying, owning and managing real estate assets.
Now the WOTSO flexspace business, which started as an innovative way to fill vacant office space, has expanded to 31 sites currently open and is generating twice the revenue of its 16 properties valued at $265 million.
CEO Jessie Glew says many people still view WOTSO as a traditional real estate investment trust (REIT), when this is no longer the case.
“We want people to focus on the operating business and felt the inclusion of ‘Property’ in our name was sending mixed messages as to where the Group’s focus sits.” she says.
“While property remains a core asset and growth enabler, we’re positioning for long term value creation through expansion of operating income alongside active asset repositioning.”
