Workspace disposes of East London business park
Workspace Group
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17:00 27/12/24
Office space provider Workspace Group has disposed of Highway Business Park in Limehouse, East London, and an adjoining property owned by Canada Life Investments.
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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."