9th Jul 2018 08:05
LONDON (Alliance News) - FTSE 250-listed office space provider Workspace Group PLC said on Monday it has sold three properties comprising 106,000 square feet of net lettable space for GBP51.9 million.
The London portfolio consisting of Belgravia Workshops in N19, The Ivories N1 and Spectrum House in NW5 was sold at a premium of 23.2% to the March 31 valuation at a net initial yield of 4.0%.
"The sale of these three small properties is in line with the continued repositioning of our portfolio. This disposal has been made at a premium to book value and will provide us with further capital to recycle into our extensive refurbishment project pipeline and new acquisitions where we can generate superior value for shareholders," said Chief Executive Officer Jamie Hopkins.
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