30th Sep 2015 07:24
LONDON (Alliance News) - Office provider Workspace Group PLC on Wednesday said it has exchanged contracts to acquire a former Mecca Bingo hall in Garratt Lane in Wandsworth for GBP26.1 million.
FTSE 250-listed Workspace said the site in south west London comprises a vacant 43,000 square foot hall and 200-space car park. It adjoins its existing Riverside property, which has a rent roll of GBP1.2 million.
"This is a hugely exciting purchase for Workspace of a site we have been tracking for some time. It provides the opportunity to create a major employment hub in Wandsworth, complementing the schemes that we have already delivered at Kennington Park and The Biscuit Factory in Bermondsey. We look forward to working with Wandsworth Council and the local community on the redevelopment of this strategic site," said Workspace Chief Executive Jamie Hopkins.
Workspace shares were up 2.4% to 949.50 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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