Acquisition

Workspace Group PLC
23 August 2004

                  WORKSPACE STRENGTHENS RANGE OF NORTH LONDON
                      PROPERTIES WITH SOUTHGATE ACQUISITION
                                        
Workspace Group PLC ('Workspace'), the leading provider of flexible business
accommodation to small and medium sized enterprises ('SMEs') in London and the
South East today announces that it has completed the purchase of a freehold
office investment in Southgate, London N14 for a cash consideration of £7.62m,
from Bayford Properties Ltd.

Known as Southgate Office Village, 284-288 Chase Road, London N14, the property
comprises 34,000 sq ft of office accommodation, constructed in the mid 1980s. It
is arranged as 8 blocks in landscaped surroundings and is close to Southgate
Underground station and the High Street. The purchase price reflects an initial
yield of 7.8% after deduction of purchase costs and service charge costs where
leases are drawn on an inclusive basis.

Chief Executive, Harry Platt, commented;

'Southgate Office Village is an another good purchase for the Group. It
complements our existing holdings in North London at Staples Corner and Bounds
Green, and enables the Group to extend its offer of flexible, affordable
accommodation in this location.

The scheme is an established estate in a densely populated area popular with
local and national businesses. Opportunities exist to actively manage the estate
to further enhance returns.'

                                    -ends-
Date: 23 August 2004
For further information:

Workspace Group PLC                            City Profile Group
Harry Platt, Chief Executive                   Simon Courtenay
Mark Taylor, Finance Director                  020-7448-3244
020-7247-7614
e-mail: [e-mail]
web: www.workspacegroup.co.uk


                      This information is provided by RNS
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