REG - Workspace Grp PLC - SALE OF HIGHWAY BUSINESS PARK

WorkspaceAnnouncement

07/03/2022 07:00

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RNS Number : 7727D  Workspace Group PLC  07 March 2022

7 March 2022

 

WORKSPACE GROUP PLC

 

WORKSPACE(®) ANNOUNCES DISPOSAL OF HIGHWAY BUSINESS PARK

 

Workspace Group PLC ('Workspace'), London's leading provider of flexible
office space, is pleased to announce the simultaneous exchange and completion
on the disposal of Highway Business Park in Limehouse, E14, and an adjoining
property owned by Canada Life Investments.

 

Highway Business Park comprises 20,000 sq. ft. of light industrial space and
Workspace will receive £23.7m for its share of the sale, a significant
premium to the 30 September 2021 valuation of £11.6m.

 

Graham Clemett, Chief Executive Officer of Workspace, commented:

 

"Highway Business Park is a site where we had previously gained planning
consent for a mixed-use scheme comprising residential units and a new business
centre in an attractive East London location. However, we are always focused
on maximising value from our assets and, in this case, we have achieved a
significantly higher return by selling the site for an urban logistics
scheme."

 

 

- ENDS -

 

 

For media and investor enquiries, please contact:

 

Workspace Group
PLC

Clare Marland, Head of Corporate
Communications
020 7138 3300

 

Finsbury Glover Hering

Guy Lamming
 
        020 7251 3801

Chris Ryall

 

 

Notes to Editors

 

About Workspace Group PLC:

 

Established in 1987, and listed on the London Stock Exchange since 1993,
Workspace owns and manages some 4 million sq. ft. of business space in London.
We are home to London's brightest 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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