REG - Workspace Grp PLC - FURTHER DISPOSAL OF LOW-CONVICTION ASSETS

WorkspaceAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251211:nRSK0879La&default-theme=true

RNS Number : 0879L  Workspace Group PLC  11 December 2025

11 December 2025

 

WORKSPACE GROUP PLC

 

FURTHER DISPOSAL OF LOW-CONVICTION ASSETS IN LINE WITH STRATEGY

 

Workspace Group PLC ('Workspace'), London's leading provider of sustainable,
flexible work space, is pleased to announce that it has exchanged on the
disposal of two additional low-conviction assets for a total of £11.8m, in
line with the September 2025 valuation and at a net initial yield of 5.7%.

 

The assets being sold include Peer House near Gray's Inn Road, a 10,000 sq.
ft. office building, and Blocks A and B of Parkhall Business Centre in
Dulwich, which comprise 23,000 sq. ft. of light industrial and office space.
The remainder of Parkhall Business Centre, comprising 99,000 sq. ft. of
office, studio and workshop space, is retained by Workspace as a conviction
asset in line with its recent portfolio review and strategy launched in June.

 

Taking into account these latest disposals, Workspace has now exchanged or
completed on a total of £106m of low-conviction asset sales, against our
two-year target of £200m.

 

Lawrence Hutchings, Chief Executive Officer of Workspace, commented:

 

"Today's disposals are another disciplined step towards optimising our
portfolio through our conviction‑led approach. Recycling capital out of
lower-conviction assets sharpens our focus on the buildings where customer
demand and returns are strongest. We're executing our Fix, Accelerate and
Scale strategy at pace and remain firmly focused on rebuilding occupancy and
delivering income-led shareholder returns."

 

 

- ENDS -

 

 

For media and investor enquiries, please contact:

 

Workspace Group
PLC

Paul Hewlett, Director of Strategy & Corporate
Development                               020
7138 3300

Clare Marland, Head of Corporate Communications
 

 

FGS Global

Chris Ryall
 
            020 7251 3801

Guy Lamming

 

 

Notes to Editors

 

About Workspace Group PLC:

 

Workspace is London's leading owner and operator of flexible workspace,
currently managing 4 million sq. ft. of sustainable space at 60 locations in
London and the South East.

 

We are home to some 4,000 of London's fastest growing and established brands
from a diverse range of sectors. Our purpose, to give businesses the freedom
to grow, is based on the belief that in the right space, teams can achieve
more. That in environments they tailor themselves, free from constraint and
compromise, teams are best able to collaborate, build their culture and
realise their potential.

 

We have a unique combination of a highly effective and scalable operating
platform, a portfolio of distinctive properties, and an ownership model that
allows us to offer true flexibility. We provide customers with blank canvas
space to create a home for their business, alongside leases that give them the
freedom to easily scale up and down within our well-connected, extensive
portfolio.

 

We are inherently sustainable - we invest across the capital, breathing new
life into old buildings and creating hubs of economic activity that help
flatten London's working map. We work closely with our local communities to
ensure we make a positive and lasting environmental and social impact,
creating value over the long term.

 

Workspace was established in 1987, has been listed on the London Stock
Exchange since 1993, 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, visit www.workspace.co.uk

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISEAXAEFLLSFFA



            Copyright 2019 Regulatory News Service, all rights reserved