Workspace disposes of Stratford Office Village for £14m

Workspace has exchanged contracts for the disposal of Stratford Office Village, E15, for £14m, which is in line with the 31 March valuation.

The site consists of 52,000 sq ft of self-contained offices and Workspace obtained planning consent in September last year for a mixed-use redevelopment comprising 101 residential units and 13,000 sq. ft. of new commercial space.

Chief executive Jamie Hopkins said: "Having gained residential planning consent on this site, we have benefited from the significant uplift in value and are delighted we have now exchanged contracts to sell the property. This sale demonstrates the value of our redevelopment pipeline, and we look forward to deploying the proceeds into our extensive pipeline of business centre refurbishments."

At 1000 BST, the shares were up 1.1% to 894p.