Workspace Group PLC Workspace Granted Planning Consent in Stratford (1342K)

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RNS Number : 1342K

Workspace Group PLC

19 September 2016

19 September 2016

WORKSPACE GROUP PLC

WORKSPACE GRANTED PLANNING CONSENT IN STRATFORD

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 Stratford Office Village.

Stratford Office Village is situated less than two kilometres from the Queen Elizabeth Olympic Park and just over 600m from Stratford train station. The site currently consists of self-contained offices and was valued at GBP14m at March 2016.

Workspace has secured mixed use planning consent to replace the existing buildings with a redevelopment comprising 101 residential units, including a mix of townhouses, private apartments and 25% affordable housing, and 13,000 sq. ft. of new commercial space. The scheme will provide much needed housing for the London Borough of Newham.

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

"We are delighted to have received planning permission for this redevelopment in Stratford, which will considerably increase the capital value of the site. This is one of a pipeline of opportunities that we are actively managing in order to drive shareholder returns 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 around 65 properties 
       all 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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September 19, 2016 02:00 ET (06:00 GMT)