X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The purchases add 136,000 sf of flexible business space to the company’s portfolio.

In Harlow, Essex, Workspace has bought the Harlow Enterprise Centre, Burnt Mill Industrial Estate, from Norchester Estates or £3.6 million ($5 million). The 51,851 sf site provides 28 light industrial units generating an annual income of £344,325 ($478,611).

The Redbridge Enterprise Centre in Ilford, East London, was also bought from Norchester for £1.5 million. The 20,080 sf business centre comprises 20 light industrial units of 1,004 sf each. The estate generates an annual income of £146,400 ($203,500).

Parma House, Wood Green, London N22, was bought at auction from Hallway Properties for £1.6 million. The 36,509 sf property willproduce a yield of 12% when the vacant space is let.

At the same time contracts have been exchanged to acquire Quality Court off Chancery Lane, London WC2 from City & Estates for £4.2 million. The 24,102 sf Grade II listed building is shortly to be vacated by the London School of Economics and has planning consent for refurbishment and extension to provide 21,825 sf of office accommodation. Refurbishment works will start in July, and the space will be available for occupation in mid 2002.

Workspace’s Chief Executive, Harry Platt, said: ‘We are planning to double our South East portfolio over the coming years. Workspace is taking a stake in the South East’s SME sector expansion. The market is very fragmented and offers us huge opportunities to grow. We are keen to reinforce our dominant position as the South East’s leading provider of space to SMEs.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.