FURTHER DISPOSAL OF LOW-CONVICTION ASSETS
Summary by AI BETAClose X
11 December 2025
WORKSPACE GROUP PLC
FURTHER DISPOSAL OF LOW-CONVICTION ASSETS IN LINE WITH STRATEGY
Workspace Group PLC ('Workspace'), London's leading provider of sustainable, flexible work space, is pleased to announce that it has exchanged on the disposal of two additional low-conviction assets for a total of £11.8m, in line with the September 2025 valuation and at a net initial yield of 5.7%.
The assets being sold include Peer House near Gray's Inn Road, a 10,000 sq. ft. office building, and Blocks A and B of Parkhall Business Centre in Dulwich, which comprise 23,000 sq. ft. of light industrial and office space. The remainder of Parkhall Business Centre, comprising 99,000 sq. ft. of office, studio and workshop space, is retained by Workspace as a conviction asset in line with its recent portfolio review and strategy launched in June.
Taking into account these latest disposals, Workspace has now exchanged or completed on a total of £106m of low-conviction asset sales, against our two-year target of £200m.
Lawrence Hutchings, Chief Executive Officer of Workspace, commented:
"Today's disposals are another disciplined step towards optimising our portfolio through our conviction‑led approach. Recycling capital out of lower-conviction assets sharpens our focus on the buildings where customer demand and returns are strongest. We're executing our Fix, Accelerate and Scale strategy at pace and remain firmly focused on rebuilding occupancy and delivering income-led shareholder returns."
- 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 million sq. ft. of sustainable space at 60 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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago Galliford Try
- 1 hour ago Galliford Try
- 1 hour ago Centrica
- 1 hour ago Smith & Nephew
- 2 hours ago Greencoat UK Wind