17th Jun 2016 13:52
LONDON (Alliance News) - Workspace Group PLC on Friday said it is in talks to buy a 160,000 square feet office campus in Hammersmith, in west London, for around GBP120.0 million.
The Hammersmith Embankment Scheme, which is located on the banks of the River Thames comprises of two office blocks and one acre of development land, is currently owned by property expert Goodman Group and financial services company Legal & General Group PLC's joint venture, the Arlington Business Parks Partnership.
The flexible office-space provider said if the acquisition is to proceed, it would be funded from existing resources, although noted there can be no certainty that any transaction will go ahead.
The company was responding to media speculation from trade magazine Property Week, which said the site has been on the market since February and a number of parties, including property manager Catalyst Capital LLP, had bid on the campus.
Shares in Workspace were up 1.3% at 760.50 pence on Friday afternoon.
By Hannah Boland; [email protected]; @Hannaheboland
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