Planning Consent

RNS Number : 3674J

Workspace Group PLC

17 December 2015

 

17 December 2015

WORKSPACE GROUP PLC

WORKSPACE GRANTED PLANNING CONSENT IN STRATFORD

Workspace Group PLC ("Workspace"), home to London's new and growing companies, is pleased to announce it has been granted planning permission for the redevelopment of the Marshgate industrial estate ("Marshgate") on Marshgate Lane in Stratford, E15 2NH.

Marshgate is located in the Pudding Mill Area of the Queen Elizabeth Olympic Park, 400 yards from the Olympic stadium and close to Pudding Mill station on the DLR. The two and a half acre site currently consists of 93,000 sq. ft. of light industrial space and was valued at £14m at September 2015.

Workspace has secured mixed use planning consent to replace the existing buildings with a redevelopment comprising 200 residential units - including a mix of townhouses, apartments and 17% affordable housing - and a new 34,000 sq. ft. business centre. The scheme will increase the employment density of the site and provide much needed housing for the Stratford area.

Commenting on the announcement, Jamie Hopkins, Chief Executive Officer of Workspace, said:

"We are delighted to have been granted planning permission for a new business centre in Stratford and see this as great news for new and growing companies in the area, who will benefit from the new space we're providing.

This demonstrates our ongoing commitment to taking advantage of redevelopment opportunities where we can to drive rental income and enhance the value of our existing portfolio."

ENDS

For media and investor enquiries, please contact:

Workspace Group PLC	020 7138 3300
Clare Dundas, Head of Corporate Communications
Bell Pottinger	020 3772 2562
Victoria Geoghegan Nick Lambert Elizabeth Snow

Notes to Editors

About Workspace Group PLC:

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

·   Workspace owns over 80 properties across London and is home to some 4,000 new and growing companies

·   Workspace provides the right properties in the right locations to attract its customers and the right services to retain them and help them grow

·   Workspace is growing through deep market knowledge, operational excellence and strong customer relationships

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

 

END

 

 

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