Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Workspace Group PLC on Monday said it sold Highway Business Park in east London, receiving £23.7 million for its share.
The London-based office space provider said the sale represented a ‘significant’ premium to the stake's September 30 valuation of £11.6 million.
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.’
Shares in Workspace were down 4.7% at 624.00 pence on Monday morning in London.
Copyright 2022 Alliance News Limited. All Rights Reserved.