Workspace sells Balham industrial estate for £30m
The three-acre industrial estate totals 67,000 sq ft of net lettable space with an average rent per sq ft of £13.90. The property was sold at a premium of 84% (£13.7m) to the 31 March 2017 valuation of £16.3m, at a net initial yield of 2.9%.
Jamie Hopkins, chief executive officer of Workspace, said: “Zennor Road is the last of our industrial estates earmarked for sale and our portfolio is now entirely focused on business centres and properties which represent refurbishment or redevelopment opportunities. This disposal has been completed at a significant premium to book value and the proceeds will be reinvested into our extensive project pipeline and targeted acquisition opportunities that will deliver value to shareholders.”
http://www.costar.co.uk/en/assets/news/ ... ndustrial/
http://www.propertyweek.com/finance/wor ... 37.article
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