Disposal announcement
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Workspace Group PLC ('Workspace'), London's leading provider of sustainable, flexible workspace, is pleased to announce it has exchanged on the sale of The Planets, a residential redevelopment site in Woking for a total of £13.0m.
The redevelopment site formed part of the McKay portfolio acquired in May 2022 and received planning consent for 366 residential units in November 2022. It has been sold at an 18% (£2m) premium to the March 2024 valuation.
Graham Clemett, Chief Executive Officer of Workspace, commented:
"This disposal is a further example of our strategy to continually recycle capital into our extensive project pipeline, whilst also strengthening our balance sheet."
For media and investor enquiries, please contact:
Workspace Group PLC
Paul Hewlett, Director of Strategy & Corporate Development 020 7138 3300
Duncan Pelham, Senior Corporate Communications Manager
FGS Global
Chris Ryall 020 7251 3801
Guy Lamming
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