Workspace Group PLC Disposal (4308I)
19 June 2017 - 4:00PM
UK Regulatory
TIDMWKP
RNS Number : 4308I
Workspace Group PLC
19 June 2017
19 June 2017
WORKSPACE GROUP PLC
WORKSPACE ANNOUNCES SALE OF RESIDENTIAL REDEVELOPMENT IN BOW
Workspace Group PLC (Workspace) is pleased to announce the
exchange of contracts for the disposal of the third and final phase
of the mixed-use redevelopment of Bow Enterprise Park, E3.
The final phase of the redevelopment, comprising 130 residential
units, has been sold for GBP6.3m in cash and the return of a new
40,000 sq ft business centre. The sale is in line with the 31 March
2017 valuation.
Commenting on the announcement, Jamie Hopkins, Chief Executive
Officer of Workspace, said:
"We are delighted to have exchanged contracts to sell this
redevelopment and look forward to receiving a new business centre
located in such a vibrant and well-connected area of East London,
adjacent to the Devon's Road DLR station. This sale reinforces our
strategy to drive value from our portfolio as we continue to see
demand for residential development sites in London."
- ENDS -
For media and investor enquiries, please contact:
Workspace Group PLC
Duncan Pelham 077 4040 7068
Edelman
Rob Yates 020 3047 2546
Notes to Editors
About Workspace Group PLC:
Workspace is geared towards helping businesses perform at their
very best. The Workspace Advantage is our unique customer offer and
is open to all - we provide inspiring, flexible work spaces with
super-fast technology in dynamic London locations. Established in
1987, and listed on the London Stock Exchange since 1993, Workspace
owns and manages more than 3.5 million sq. ft. of business space
across 68 London properties. We are home to some 4,000 businesses
including some of the fastest growing and established brands across
a wide range of sectors.
The way businesses work is changing. That's why we continually
invest in providing the technology infrastructure that enables our
customers to think and move fast, and alongside their working
environment, is tailored to each individual business.
Workspace (WKP) is a FTSE 250 listed Real Estate Investment
Trust and a member of the European Public Real Estate
Association.
For more information on Workspace, please visit
www.workspace.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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