Re-generation and Investment Targeted with GLE
Workspace Group PLC
8 May 2000
WORKSPACE AND GLE TO TARGET RE-GENERATION AND INVESTMENT OPPORTUNITIES IN
LONDON
Workspace Group PLC, a property company which has over 3,000 tenants based
mainly in London, and GLE Properties, the specialist property and re-
generation division of the Greater London Enterprise (GLE), have now finalised
a major co-operation agreement. The objective of the agreement is to enable
both parties to target authorities within Greater London for re-generation and
development.
Workspace Group PLC is an entrepreneurial developer of property for small and
medium sized enterprises (SME's) which specialises in re-generation and the
re-development of unique properties. GLE Properties owns, trades and manages
a 550,000 sq ft portfolio of properties throughout London. The agreement will
enable both companies to explore the potential for joint ventures from these
and other opportunities within the London area. It will also enable them to
source other projects which may be undertaken in partnership and offer the
potential for ultimate acquisitions and retention by Workspace.
Harry Platt, the Chief Executive of Workspace, comments:
'London is clearly the engine of economic growth in the UK and the election of
a new London Mayor along with the London Development Agency should unleash
further opportunities. This agreement will enable the GLE and Workspace to
work together to find opportunities, creating new jobs and helping to launch
new business.'
Martin Large, Managing Director of GLE Properties, added:
'The combination of the re-generation and development expertise of GLE,
together with the commercial firepower of Workspace Group will provide a
platform for more re-generation initiatives and will allow us to pursue a
wider range of investment and development opportunities.'
Examples of the type of investment and development opportunities which both
parties will jointly pursue include industrial/workspace portfolios in need of
investment and improvements with a significant workspace element.
The Co-operation Agreement will initially last for a period of 12 months.
For further information, please contact:
Harry Platt, Chief Executive Workspace Group PLC 020-7247-7614
Jonathan Gillen City Profile 020-7726-8588
Martin Large, Managing Director GLE Properties 020-8464-1655
Sue Brown Tamesis 020-7734-1252
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