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IN BRIEF: Workspace considers sale of McKay light industrial assets

Fri, 27th May 2022 08:33

Workspace Group PLC - London-based real estate investment trust - Confirms it is considering selling light industrial assets that were previously owned by McKay Securities, following "significant interest". Says it has received "unsolicited indications of interest" from a number of unnamed parties for the entire portfolio of light industrial assets. Explains that it wants to take advantage of opportunities to recycle capital into other assets, "which may result in the disposal of certain assets".

Workspace sealed the acquisition of property firm McKay earlier in May for GBP272 million. Following the completion of the McKay acquisition, Workspace's portfolio consisted of GBP2.9 billion worth of gross property assets, with 5.5 million square feet of lettable space. Workspace doesn't say where the light industrial assets are located, but McKay's portfolio was in south east England and London, mostly along the M4 motorway corridor.

Workspace current stock price: 711.00 pence

12-month change: down 19%

By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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