Workspace Group PLC Planning Consent (1478R)
26 Junio 2020 - 01:00AM
UK Regulatory
TIDMWKP
RNS Number : 1478R
Workspace Group PLC
26 June 2020
26 June 2020
WORKSPACE GROUP PLC
WORKSPACE GRANTED PLANNING CONSENT FOR MAJOR MIXED-USE
REDEVELOMENT IN WANDSWORTH
Workspace Group PLC ("Workspace") is pleased to announce it has
been granted planning consent for the mixed-use redevelopment of
two adjacent properties which it owns at Riverside and Garratt
Lane, in Wandsworth, SW18.
The 5.4 acre site currently comprises 145,000 sq. ft. of office,
leisure and light industrial space, with a rent roll of GBP2.5m and
a property valuation of GBP46m as at 31 March 2020.
The planning consent is for a new 106,000 sq. ft. business
centre and 65,000 sq. ft. of new light industrial space, both on
Garratt Lane, and 402 residential apartments set back from the road
along the River Wandle, including 35% affordable housing. Garratt
Lane is just 500m from Earlsfield station, providing fast access to
London Waterloo and Victoria and within easy reach of Wimbledon,
Putney and Wandsworth town centres.
Commenting on the announcement, Graham Clemett, Chief Executive
Officer of Workspace, said:
"This planning consent is a great example of our employment-led
regeneration approach in an area we know well. It will create a
vibrant destination for businesses of all sizes, alongside
delivering much needed well-designed apartments attractively
located alongside the River Wandle. These projects are a key part
of our growth strategy, expanding our footprint and generating
increased value for our shareholders and the communities we
serve."
Ends
For media and investor enquiries, please contact:
Workspace 020 7138 3300
Clare Marland, Head of Corporate Communications
Edelman 020 3047 2546
Rob Yates
Notes to Editors:
About Workspace Group PLC:
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).
LEI: 2138003GUZRFIN3UT430
For more information on Workspace, visit www.workspace.co.uk
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END
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