Workspace Group PLC Planning Consent (9501L)

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RNS Number : 9501L

Workspace Group PLC

07 October 2016

7 October 2016

WORKSPACE GROUP PLC

WORKSPACE GRANTED PLANNING CONSENT IN HACKNEY

Workspace Group PLC ("Workspace"), home to London's New and Growing Companies, is pleased to announce it has been granted planning permission for the redevelopment of Mare Street Studios in Hackney.

Mare Street Studios is situated less than 200 metres from London Fields train station, providing a direct link into Liverpool Street. The site currently consists of 38,000 sq. ft. of office and light industrial space and was valued at GBP9.4m at March 2016.

Workspace has been granted planning consent to refurbish the site, upgrading the existing space and adding a rooftop extension. The new 55,000 sq. ft. business centre will contain all the attributes that characterise Workspace's offer, including a café, meeting rooms, co-working space, cycle storage and showers and communal breakout areas.

Commenting on the announcement, Jamie Hopkins, Chief Executive of Workspace, said:

"Hackney has become a very attractive area for our customers and we are delighted to have achieved planning consent to create a new business centre that will meet the demand in this exciting location. We continue to deliver on our pipeline of refurbishment projects to upgrade the quality of our portfolio and add superior value to shareholders over the long term."

Ends

For Workspace media and investor enquiries, please contact:

Workspace Group PLC 020 7138 3300

Clare Dundas, Head of Corporate Communications

Bell Pottinger 020 3772 2562

Victoria Geoghegan

Nick Lambert

Elizabeth Snow

Notes to Editors:

About Workspace:

 
 --   Workspace is a FTSE250 property company and 
       has been listed on the London Stock Exchange 
       since 1993 
 --   Workspace owns and manages over 65 properties 
       across London and is home to some 4,000 new 
       and growing companies 
 --   Workspace provides the right properties in 
       the right locations to attract its customers 
       and the right services to retain them and help 
       them grow 
 --   Workspace is growing through deep market knowledge, 
       operational excellence and strong customer 
       relationships 
 --   For more information on Workspace, please visit 
       www.workspace.co.uk 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 07, 2016 02:00 ET (06:00 GMT)