11th Aug 2014 06:52
LONDON (Alliance News) - Workspace Group PLC said Monday that it has secured planning permission for its redevelopment project in Hayes, a 50:50 joint venture with Polar Properties.
The London real estate investment trust said that the redevelopment of Enterprise House, within which its interest was valued at GBP3 million at the end of March 2014, will provide 98 apartments and a 38,000 square foot business centre for creative industries.
The planning permission will also enable Workspace and Polar Properties to create 150 jobs by providing new business space, said the company.
Workspace plans to refurbish the grade II listed factory building, tailored to the needs of small businesses with a particular focus on creative industries, it said. One of the existing tenants to be retained will be the Vinyl Factory which specialises in producing high quality, limited edition, vinyl records.
"We are delighted to have secured approval for Enterprise House in Hayes, a location that will benefit greatly by the arrival of a Crossrail station adjacent to the property. Enterprise House is one of a number of properties, in similarly advantageous locations to Crossrail, which Workspace is redeveloping," said Jamie Hopkins, CEO of Workspace Group.
By Alice Attwood; [email protected]; @AliceAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Workspace