Workspace Group PLC Disposal of Quality Court (7439U)
27 Noviembre 2019 - 01:00AM
UK Regulatory
TIDMWKP
RNS Number : 7439U
Workspace Group PLC
27 November 2019
22 November 2019
WORKSPACE GROUP PLC
WORKSPACE(R) ANNOUNCES DISPOSAL OF QUALITY COURT IN HOLBORN
Workspace Group PLC ('Workspace') is pleased to announce the
exchange of contracts for the disposal of Quality Court, off
Chancery Lane in Holborn, for a total of GBP15.8m. The sale of the
property is at a premium of 3% to the 30 September 2019 valuation,
a net initial yield of 4.3% and a capital value of GBP930 per sq.
ft.
The Grade II* listed building, 100 metres from Chancery Lane
station, comprises 17,000 sq. ft. of net lettable space over five
storeys.
Graham Clemett, Chief Executive Officer of Workspace,
commented:
"We are pleased to have made this sale of a small office
building at a premium to book value, providing capital to recycle
into our project pipeline and new acquisitions."
- ENDS -
For media and investor enquiries, please contact:
Workspace Group PLC 020 7138 3300
Emily Meara
Edelman 020 3047 2546
Rob Yates
Notes to Editors
Established in 1987, and listed on the London Stock Exchange
since 1993, Workspace owns and manages some 4 million sq. ft. of
business space in London. We are home to thousands of businesses,
including fast growing and established brands across a wide range
of sectors.
Workspace is geared towards helping businesses perform at their
very best. We provide inspiring, flexible work spaces in dynamic
London locations.
Workspace (WKP) is a FTSE 250 listed Real Estate Investment
Trust (REIT) and a member of the European Public Real Estate
Association (EPRA).
For more information on Workspace, visit
www.workspace.co.uk.
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END
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November 27, 2019 02:00 ET (07:00 GMT)
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