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Iain Gilbert Sharecast News
07 Mar, 2022 07:10 07 Mar, 2022 07:10

Workspace disposes of East London business park

dl workspace group logo office space working offices ftse 250
Workspace GroupSharecast graphic / Josh White

Workspace Group

554.00p

15:44 22/11/24
2.78%
15.00p

Office space provider Workspace Group has disposed of Highway Business Park in Limehouse, East London, and an adjoining property owned by Canada Life Investments.

FTSE 250

20,584.46

15:45 22/11/24
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FTSE 350

4,551.10

15:45 22/11/24
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FTSE All-Share

4,506.61

15:45 22/11/24
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Real Estate Investment Trusts

2,136.31

15:44 22/11/24
2.10%
43.85

Workspace said on Monday that the sale of Highway Business Park, made up of 20,000 square feet of light industrial space, will provide the group with £23.7m for its share, a "significant premium" to its 30 September 2021 valuation of £11.6m.

Chief executive Graham Clemett said: "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."

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