Acquisition

Workspace Group PLC
30 August 2001

                           Workspace Group PLC
                                                                              
                         WORKSPACE SCORES WITH DOUBLE                         
                          ACQUISITION IN PARK ROYAL                           

Workspace Group PLC ('Workspace'), the  leading  provider of flexible business
accommodation to small and medium sized enterprises ('SMEs') in London and the
South East,  has  announced  the  acquisition of two properties in Park Royal,
West London from a private investor, for a cash consideration of £7.95m.  

98 Victoria Road, Acton has been acquired  for £5.45m and the Europa Building,
Victoria Road,  NW10,  for  £2.5m.  The  properties  are  close to the Group's
existing Acton Business Centre.  

98  Victoria  Road  comprises  a 69,869 sq. ft industrial estate on a 2.8 acre
site,  located  near  the  A40 Western Avenue.   The  estate  is  95% let, and
produces an annual rent of £389,382.  The ERV is estimated at  £686,000, which
on the agreed purchase price would  show  a  reversionary  yield of 11% at 95%
occupancy.

The  Europa  Building,  is  an   attractive   27,950   sq.   ft,  three-storey
industrial/warehouse  building  built  in  the  1930's.  The building warrants
conversion to higher value studio and B1 accommodation.   The  building is 50%
let, currently producing income of £120,000 per annum.

Harry Platt, Chief Executive of Workspace commented,

'  These properties offer great potential for improving both rental income and
capital value.   We  are confident that they will respond well to our style of
active  management  and  offer an excellent fit with our existing interests in
the area.

'  The Park Royal area is becoming increasingly popular with SMEs. At the same
time  it  is  under  going significant improvement through re-generation which
will directly benefit both these properties.'


Date: 30 August 2001
For further information contact:

Workspace Group PLC                               City Profile
Harry Platt, Chief Executive                      Simon Courtenay
Mark Taylor, Finance Director                     Ed Senior
020-7247-7614                                     020-7726-8588
e-mail: [e-mail]                 e-mail:[e-mail]
web: www.workspacegroup.co.uk