Workspace Group plc confirms £51m disposal of three London properties

Flexible office provider Workspace Group plc is selling off three properties in the capital as part of a ‘continued repositioning’ of its portfolio.

The London-headquartered company exchanged contracts for Belgravia Workshops (in the N19 area), The Ivories (in N1) and Spectrum House (NW5) for a total of £51.85m.

Together, the three sites comprise 106,000 sq ft of lettable space.

Workspace CEO Jamie Hopkins said: “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.”