REG - Workspace Grp PLC - Workspace announces portfolio disposal

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RNS Number : 9921I  Workspace Group PLC  26 November 2025

26 November 2025

 

WORKSPACE GROUP PLC

 

PORTFOLIO DISPOSAL, ALIGNED WITH CONVICTION-LED PORTFOLIO STRATEGY

 

Workspace Group PLC ('Workspace'), London's leading provider of sustainable,
flexible workspace, is pleased to announce that it has exchanged and completed
on the disposal of a portfolio of three assets for £41.7m. The sale has been
made in line with the September 2025 valuation and at a net initial yield of
7.9%.

 

The portfolio of three assets includes 338 Goswell Road in Angel (37,000 sq.
ft.), Cannon Wharf in Surrey Quays (33,000 sq. ft.) and The Mille in Brentford
(93,000 sq. ft.). All of these assets were identified as low conviction
buildings for Workspace following a thorough review of the portfolio as part
of the "Fix, Accelerate and Scale" strategy.

 

This brings the total assets sold or exchanged in the year to date to £94.1m,
with several additional assets also under offer.

 

Lawrence Hutchings, Chief Executive Officer of Workspace, commented:

 

"As part of our Fix, Accelerate, Scale strategy we are implementing a
conviction-led approach to portfolio management, with a target of £200m of
disposals - around 20 assets - within two years. The disposal of a further
three assets for £41.7m demonstrates that our plans are on track and we are
maintaining momentum. While our current disposals target is £200m, we are
constantly reviewing our portfolio to ensure we have the right assets to
maximise value for our shareholders."

 

 

- 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 4.3 million sq. ft. of sustainable space at 65 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

 

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