26th Jul 2022 08:47
Workspace Group PLC - London-based real estate investment trust - Completes the sale of Newbury medical centre for GBP7.3 million, a premium of GBP1.2 million to its March 2022 valuation. The medical centre was an asset that came with the McKay Securities portfolio.
In May, Workspace bought property firm McKay for GBP272 million. Following the completion of the McKay acquisition, Workspace's portfolio consisted of GBP2.9 billion worth of gross property assets, with 5.5 million square feet of lettable space.
Chief Executive Officer Graham Clemett comments: "We are pleased to have completed on this first sale from the identified non-core assets in the McKay portfolio. We continue to progress with our disposal programme, targeting completion by December 2022, with the proceeds expected to significantly reduce our loan-to-value and increase the proportion of fixed-rate debt."
Current stock price: 571.50 pence, down 0.4% on Tuesday
12-month change: down 32%
By Sophie Rose; [email protected]
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