9th Dec 2015 07:52
LONDON (Alliance News) - Flexible office space provider Workspace Group PLC on Wednesday said it has sold three light industrial properties in north London for GBP7.0 million.
The FTSE 205-listed company said the buildings total 51,000 square foot of lettable space and were sold at a 16% premium to their September valuation. The net initial yield on the sale was 4.9%.
"We saw good demand for the Park Royal assets and are delighted to have sold them at a substantial premium to book value. The disposal demonstrates our ability to optimise our portfolio and continue to deliver value to shareholders," said Jamie Hopkins, Workspace's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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