Workspace Design & Build Directors, c Workspace Design & Build

All 26 employees of Workspace Design and Build now own shares of the company. Credit: via WSDB

WSDB becomes employee-owned

All of the shares in the Manchester-based interior design and fit-out company are now held in an employee ownership trust.

Workspace Design and Build was established in 2004 by directors Russel Davis and David Barfield. The firm works across the North West and Midlands to deliver office refurbishments, from interior design to furniture procurement and on-site delivery.

The 26-strong firm has transitioned into employee ownership, meaning that eligible members of staff will now own the company.

The company’s board of directors is made up of David Barfield, Russell Davis, Laura Faulkner, Lauren Hart, and Richard Barsby.

Davis said: “Employee ownership was a way in ensuring we could keep our great team, continue to invest in the business, and ensure the future of the company throughout the North West and Midlands”.

“Much of the success Workspace Design and Build has seen is through the brilliant people employed”, he continued.

“This is one of the reasons why David and I decided on the employee ownership route.

“We knew it would add stability and ensure that Workspace Design and Build would continue to prosper with the business now in the hands of the staff.”

Barfield added: “When Russell and I were looking at our options, we had different routes we could go down, but employee ownership felt like the best fit”.

“Our team has shown us huge amounts of support throughout the years – without them, we would not have been able to grow the business to what it is today”.

Freeths LLP and Mazars advised WSDB on the deal.

WSDB is not alone in its EOT venture. Earlier this year, Place North joined the wave of businesses moving to employee ownership.

Other companies that have joined the ranks include Planit, DB3, Futureserv, Crookes Walker, Shedkm, Day Architectural, Ainsley Gommon Architects, and B8 Real Estate.

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No wealth extraction by speculating absent shareholders? No execs with mega-salaries and maximize short-term profit to boost bonuses, no squeezing staff until the pips squeak? How can this model possibly succeed? Tory naked capitalism it is not.

By James Yates

Well done Workspace. Love your work.

By Anonymous

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