Workspace Regulatory News (WKP)

26 June 2020

WORKSPACE GROUP PLC

WORKSPACE GRANTED PLANNING CONSENT FOR MAJOR MIXED-USE REDEVELOMENT IN WANDSWORTH

Workspace Group PLC ("Workspace") is pleased to announce it has been granted planning consent for the mixed-use redevelopment of two adjacent properties which it owns at Riverside and Garratt Lane, in Wandsworth, SW18.

The 5.4 acre site currently comprises 145,000 sq. ft. of office, leisure and light industrial space, with a rent roll of £2.5m and a property valuation of £46m as at 31 March 2020.

The planning consent is for a new 106,000 sq. ft. business centre and 65,000 sq. ft. of new light industrial space, both on Garratt Lane, and 402 residential apartments set back from the road along the River Wandle, including 35% affordable housing. Garratt Lane is just 500m from Earlsfield station, providing fast access to London Waterloo and Victoria and within easy reach of Wimbledon, Putney and Wandsworth town centres.

Commenting on the announcement, Graham Clemett, Chief Executive Officer of Workspace, said:

"This planning consent is a great example of our employment-led regeneration approach in an area we know well. It will create a vibrant destination for businesses of all sizes, alongside delivering much needed well-designed apartments attractively located alongside the River Wandle. These projects are a key part of our growth strategy, expanding our footprint and generating increased value for our shareholders and the communities we serve."

Ends

For media and investor enquiries, please contact:

Workspace 020 7138 3300

Clare Marland, Head of Corporate Communications

Edelman 020 3047 2546

Rob Yates

Notes to Editors:

About Workspace Group PLC:

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. Workspace is geared towards helping businesses perform at their very best. We provide inspiring, flexible work spaces in dynamic London locations.

Workspace (WKP) is a FTSE 250 listed Real Estate Investment Trust (REIT) and a member of the European Public Real Estate Association (EPRA).

LEI: 2138003GUZRFIN3UT430

For more information on Workspace, visit www.workspace.co.uk