Disposal of Portfolio

RNS Number : 6481L

Workspace Group PLC

29 April 2015

 



Blackrock Workspace Property Trust

Disposal of Portfolio

The BlackRock Workspace Property Trust (BWPT), a joint venture between Workspace Group PLC (Workspace) and the BlackRock UK Property Fund, in which Workspace has a 20% interest, is pleased to announce that it has exchanged contracts for the disposal of a portfolio of 4 light industrial properties to Westbrook Partners for £32.1m.

The four properties sold were Charles House, Southall; Horton Road Industrial Estate, West Drayton; Kingsmill Business Park, Kingston-Upon-Thames and Progress Way Business Park, Croydon.

The properties were sold at a 3.8% premium to their March 2015 valuation and a capital value of £176 per sq ft. 

For media enquiries please contact:

Workspace Group PLC

Jamie Hopkins, Chief Executive Officer                                                                                 020 7138 3300

Graham Clemett, Chief Financial Officer      

Bell Pottinger

Victoria Geoghegan                                                                                                                        020 3772 2582

Nick Lambert

Elizabeth Snow

Notes to Editors

About Workspace Group PLC

·      Workspace is a FTSE250 Company and has been listed on the London Stock Exchange since 1993;

·      It has a strong 25 year track record in providing tailored business premises to growing companies in London;

·      For more information on Workspace, please visit: www.workspace.co.uk

About BlackRock UK Property Fund

·     The BlackRock UK Property Fund is an unclassified open-ended unit trust with a current net asset value of approximately £3bn.  It is based in Jersey and is an unregulated collective investment scheme in the UK.  The fund aims to deliver consistently good performance from a diversified portfolio of high quality UK commercial property.

 

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