Disposal

RNS Number : 0667D

Workspace Group PLC

22 October 2015

 

22 October 2015

WORKSPACE GROUP PLC

WORKSPACE ANNOUNCES DISPOSAL OF INDUSTRIAL ESTATE

Workspace Group PLC (Workspace), home to new and growing companies across London, is pleased to announce the exchange of contracts for the disposal of an industrial estate in Leyton, E10, for £23m, to Capital Industrial One BV.

The estate, which totals 135,544 sq. ft., was sold at a premium of 25% to the March 2015 valuation. The disposal reflects a Net Initial Yield of 4.8%.

Jamie Hopkins, Chief Executive Officer of Workspace, commented:

"We are delighted with the outcome we've achieved on this disposal. We saw significant interest in the site from a number of potential buyers and are pleased to have sold it at a substantial premium to its book value."

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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