Workspace® Announces Disposal Of Raynes Park
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your WKP notes
Workspace Group PLC ('Workspace'), London's leading provider of sustainable, flexible workspace, is pleased to announce it has exchanged on the sale of Rainbow Industrial Estate, a redevelopment site in Raynes Park. Workspace secured planning consent for a mixed-use redevelopment of the site comprising 224 residential units and 37,000 sq. ft. of new light industrial space. The site has been sold for a total of £20.3m, £1.0m below the March 2024 valuation at a net initial yield of some 3.5%.
Graham Clemett, Chief Executive Officer of Workspace, commented:
"The sale of this redevelopment site in Raynes Park continues our disposal of non-core assets, recycling capital into our core portfolio where we see significant opportunity to generate strong returns from upgrading space and delivering on our major refurbishment projects."
For media and investor enquiries, please contact:
Workspace Group PLC
Paul Hewlett, Director of Strategy & Corporate Development 020 7138 3300
Clare Marland, Head of Corporate Communications
FGS Global
Chris Ryall 020 7251 3801
Guy Lamming
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.