REG - Workspace Grp PLC - DISPOSAL OF NEWBURY MEDICAL CENTRE

WorkspaceAnnouncement

26/07/2022 07:00

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RNS Number : 6740T  Workspace Group PLC  26 July 2022

26 July 2022

 

WORKSPACE GROUP PLC

 

WORKSPACE(®) ANNOUNCES DISPOSAL OF NEWBURY MEDICAL CENTRE

 

Workspace Group PLC ('Workspace'), London's leading provider of flexible
offices, is pleased to announce the simultaneous exchange and completion on
the disposal of a medical centre in Newbury, an asset from the McKay portfolio
acquired in May 2022, for a total of £7.25m.  The sale of the property is at
a premium of £1.15m to the March 2022 valuation.

 

Graham Clemett, Chief Executive Officer of Workspace, commented:

 

"We are pleased to have completed on this first sale from the identified
non-core assets in the McKay portfolio. We continue to progress with our
disposal programme, targeting completion by December 2022, with the proceeds
expected to significantly reduce our LTV and increase the proportion of
fixed-rate debt."

 

 

- ENDS -

 

 

For media and investor enquiries, please contact:

 

Workspace Group PLC
 

Kate Annakin, Interim Investor Relations
Manager
020 7138 3300

 

FGS Global

Chris Ryall
 
              020 7251 3801

Guy Lamming

 

 

Notes to Editors

 

About Workspace Group PLC:

 

Established in 1987 and listed on the London Stock Exchange since 1993. We are
home to

thousands of businesses, including fast growing and established brands across
a wide range of sectors.

 

Workspace is geared towards helping businesses perform at their very best. We
provide inspiring, flexible work spaces in dynamic London locations.

 

Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust (REIT) and a
member of the European Public Real Estate Association (EPRA).

 

Workspace® is a registered trademark of Workspace Group Plc, London, UK.

 

LEI: 2138003GUZRFIN3UT430

 

For more information on Workspace, please visit www.workspace.co.uk
(http://www.workspace.co.uk)

 

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