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(Sharecast News) - Flexible offices provider Workspace announced on Wednesday that it has completed the disposal of a portfolio of three assets for 41.7m, in line with its September 2025 valuation and at a net initial yield of 7.9%.
The FTSE 250-listed firm noted that the portfolio was made up of 338 Goswell Road in Angel, Cannon Wharf in Surrey Quays and The Mille in Brentford, totalling around 163,000 square feet.
Workspace said the properties had been identified as lowconviction assets following a review of its estate under its 'Fix, Accelerate and Scale' strategy. The disposal takes total assets sold or exchanged so far this year to 94.1m.
Chief executive Lawrence Hutchings said: "The disposal of a further three assets for 41.7m demonstrates that our plans are on track and we are maintaining momentum. While our current disposals target is 200m, we are constantly reviewing our portfolio to ensure we have the right assets to maximise value for our shareholders."
As of 0840 GMT, Workspace shares were up 0.14% at 365.50p.
Reporting by Iain Gilbert at Sharecast.com
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