FURTHER ASSET DISPOSALS, ALIGNED WITH STRATEGY
Summary by AI BETAClose X
2 October 2025
WORKSPACE GROUP PLC
FURTHER ASSET DISPOSALS, ALIGNED WITH CONVICTION-LED PORTFOLIO STRATEGY
Workspace Group PLC ('Workspace'), London's leading provider of sustainable, flexible work space, is pleased to announce that it has exchanged and completed on the sale of Morie Street in Wandsworth and exchanged on the sale of Castle Lane in Victoria for a combined total of £22.4m. The aggregate sale price is 3% below the March 2025 valuation and at a net initial yield of 4.3%.
Morie Street comprises 22,000 sq. ft. of office and studio space, while Castle Lane is a 14,000 sq. ft. office building. Due to their size, both assets were identified as low conviction buildings for Workspace following a thorough review of the portfolio as part of Workspace's "Fix, Accelerate and Scale" strategy.
Lawrence Hutchings, Chief Executive Officer of Workspace, commented:
"We are making good progress in delivering our strategy to fix, accelerate and scale the business and our new conviction approach to portfolio management is a key part of our plan. These disposals are consistent with our disciplined approach to recycling capital out of smaller, non-core locations and into our conviction buildings where we can really add value to our creative and innovative SME customers and, in turn, maximise value for our shareholders."
- ENDS -
For media and investor enquiries, please contact:
Workspace Group PLC
Paul Hewlett, Director of Strategy & Corporate Development 020 7138 3300
Clare Marland, Head of Corporate Communications
FGS Global
Chris Ryall 020 7251 3801
Guy Lamming
Notes to Editors
About Workspace Group PLC:
Workspace is London's leading owner and operator of flexible workspace, currently managing 4.3 million sq. ft. of sustainable space at 65 locations in London and the South East.
We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.
We have a unique combination of a highly effective and scalable operating platform, a portfolio of distinctive properties, and an ownership model that allows us to offer true flexibility. We provide customers with blank canvas space to create a home for their business, alongside leases that give them the freedom to easily scale up and down within our well-connected, extensive portfolio.
We are inherently sustainable - we invest across the capital, breathing new life into old buildings and creating hubs of economic activity that help flatten London's working map. We work closely with our local communities to ensure we make a positive and lasting environmental and social impact, creating value over the long term.
Workspace was established in 1987, has been listed on the London Stock Exchange since 1993, is a FTSE 250 listed Real Estate Investment Trust (REIT) and a member of the European Public Real Estate Association (EPRA).
Workspace® is a registered trademark of Workspace Group PLC, London, UK.
LEI: 2138003GUZRFIN3UT430
For more information on Workspace, visit www.workspace.co.uk
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