Blackrock Workspace Property Trust
Disposal of Portfolio
The BlackRock Workspace Property Trust (BWPT), a joint venture between Workspace Group PLC (Workspace) and the BlackRock UK Property Fund, in which Workspace has a 20% interest, is pleased to announce that it has exchanged contracts for the disposal of a portfolio of 4 light industrial properties to Westbrook Partners for £32.1m.
The four properties sold were Charles House, Southall; Horton Road Industrial Estate, West Drayton; Kingsmill Business Park, Kingston-Upon-Thames and Progress Way Business Park, Croydon.
The properties were sold at a 3.8% premium to their March 2015 valuation and a capital value of £176 per sq ft.
For media enquiries please contact:
Workspace Group PLC
Jamie Hopkins, Chief Executive Officer 020 7138 3300
Graham Clemett, Chief Financial Officer
Bell Pottinger
Victoria Geoghegan 020 3772 2582
Nick Lambert
Elizabeth Snow
Notes to Editors
About Workspace Group PLC
· Workspace is a FTSE250 Company and has been listed on the London Stock Exchange since 1993;
· It has a strong 25 year track record in providing tailored business premises to growing companies in London;
· For more information on Workspace, please visit: www.workspace.co.uk
About BlackRock UK Property Fund
· The BlackRock UK Property Fund is an unclassified open-ended unit trust with a current net asset value of approximately £3bn. It is based in Jersey and is an unregulated collective investment scheme in the UK. The fund aims to deliver consistently good performance from a diversified portfolio of high quality UK commercial property.
