Workspace Group PLC Planning Consent (5222I)

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RNS Number : 5222I

Workspace Group PLC

22 March 2018

22 March 2018

WORKSPACE GROUP PLC

WORKSPACE GRANTED PLANNING CONSENT IN WOOD GREEN

WORKSPACE Group PLC ("WORKSPACE") is pleased to announce it has been granted planning permission for a significant mixed-use redevelopment at its Chocolate Factory and Parma House properties in Wood Green, Haringey, N22.

The planning consent is for an extensive redevelopment across the 2.3 acre site with 230 new homes (including 35% of affordable housing) and 26,000 sq. ft. of new office space, with the loss of 89,000 sq. ft. of office and light industrial space.

The new office space comprises a 6,000 sq. ft. roof extension to the existing Chocolate Factory building which is already undergoing refurbishment to provide 60,000 sq. ft. of upgraded space, and 20,000 sq. ft. of new office space within the residential development. The scheme also provides a new public square and a pedestrian and cycle link connecting Haringey Heartlands with Wood Green Common.

The Chocolate Factory and Parma House properties currently provide 149,000 sq. ft. of office and industrial space, with a combined valuation of GBP31m at 30 September 2017.

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

"We are delighted to have received planning permission for this major mixed-use redevelopment in Wood Green, an area which is undergoing an exciting transformation. This consent at The Chocolate Factory adds to our extensive pipeline of refurbishment and redevelopment projects, upgrading the quality of our portfolio across London and driving value for shareholders over the long term."

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For media and investor enquiries, please contact:

WORKSPACE Group PLC 020 7138 3300

Clare Marland, Head of Corporate Communications

Edelman 020 3047 2546

Mav Wynn / Rob Yates

Notes to Editors:

About WORKSPACE Group PLC:

WORKSPACE is geared towards helping businesses perform at their very best. The WORKSPACE Advantage is our unique customer offer and is open to all - we provide inspiring, flexible work spaces with super-fast technology in dynamic London locations.

Established in 1987, and listed on the London Stock Exchange since 1993, WORKSPACE owns and manages more than 3.6 million sq. ft. of business space across 68 London properties. We are home to some 4,000 businesses including some of the fastest growing and established brands across a wide range of sectors.

The way businesses work is changing. That's why we continually invest in providing the technology infrastructure that enables our customers to think and move fast, and alongside their working environment, is tailored to each individual business.

WORKSPACE (WKP) is a FTSE 250 listed Real Estate Investment Trust and a member of the European Public Real Estate Association.

For more information, 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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March 22, 2018 03:00 ET (07:00 GMT)