WORKSPACE GROUP PLC
WORKSPACE ® ANNOUNCES DISPOSAL OF HIGHWAY BUSINESS PARK
Workspace Group PLC ('Workspace'), London's leading provider of flexible office space, is pleased to announce the simultaneous exchange and completion on the disposal of Highway Business Park in Limehouse, E14, and an adjoining property owned by Canada Life Investments.
Highway Business Park comprises 20,000 sq. ft. of light industrial space and Workspace will receive £23.7m for its share of the sale, a significant premium to the 30 September 2021 valuation of £11.6m.
Graham Clemett, Chief Executive Officer of Workspace, commented:
“Highway Business Park is a site where we had previously gained planning consent for a mixed-use scheme comprising residential units and a new business centre in an attractive East London location. However, we are always focused on maximising value from our assets and, in this case, we have achieved a significantly higher return by selling the site for an urban logistics scheme.”