27 Nov 2019 07:00
22 November 2019
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WORKSPACE GROUP PLC
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WORKSPACE® ANNOUNCES DISPOSAL OF QUALITY COURT IN HOLBORN
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Workspace Group PLC ('Workspace') is pleased to announce the exchange of contracts for the disposal of Quality Court, off Chancery Lane in Holborn, for a total of £15.8m. The sale of the property is at a premium of 3% to the 30 September 2019 valuation, a net initial yield of 4.3% and a capital value of £930 per sq. ft.
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The Grade II* listed building, 100 metres from Chancery Lane station, comprises 17,000Â sq. ft. of net lettable space over five storeys.
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Graham Clemett, Chief Executive Officer of Workspace, commented:
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"We are pleased to have made this sale of a small office building at a premium to book value, providing capital to recycle into our project pipeline and new acquisitions."
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- ENDS -
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For media and investor enquiries, please contact:
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Workspace Group PLC 020 7138 3300
Emily Meara
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Edelman 020 3047 2546
Rob Yates
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Notes to Editors
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Established in 1987, and listed on the London Stock Exchange since 1993, Workspace owns and manages some 4 million sq. ft. of business space in London. We are home to thousands of businesses, including fast growing and established brands across a wide range of sectors.
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Workspace is geared towards helping businesses perform at their very best. We provide inspiring, flexible work spaces in dynamic London locations.
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Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust (REIT) and a member of the European Public Real Estate Association (EPRA).
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For more information on Workspace, visit www.workspace.co.uk.
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