Key Developments: Workspace Group PLC (WKP.L)

WKP.L on London Stock Exchange

27 Feb 2015
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Latest Key Developments (Source: Significant Developments)

Workspace Group PLC announces completion of its acquisition
Wednesday, 21 Jan 2015 02:00am EST 

Workspace Group PLC:Says completion of its acquisition of Edinburgh House, SE11 for 25.3 mln pounds and Peer House, WC1 for 6.1 mln pounds.The building extends over basement, ground and four upper floors, has a net internal area of 68,300 sq.ft. and is let in its entirety to the Metropolitan Police Authority until 2030, at a rent of £22 per sq.ft.There is a tenant break in 2020, and a rent review due in 2015, with discussions over the tenant's future occupational plans ongoing.The property is being acquired at a net initial yield of 5.2 pct and at capital value of £370 per sq.ft.  Full Article

Workspace Group PLC completes placing
Wednesday, 12 Nov 2014 08:33am EST 

Workspace Group PLC:Completes placing announced earlier on Nov. 12.Says a total of 14,627,492 new ordinary shares of 100 pence each in Workspace have been placed by Liberum Capital Limited and Merrill Lynch International at a price of 660 pence per Placing Share, raising gross proceeds of about 96.5 mln pounds.Placing Shares being issued represent about 9.99 pct of Workspace's issued ordinary share capital prior to the Placing.  Full Article

Workspace Grp PLC declares dividend
Wednesday, 12 Nov 2014 02:01am EST 

Workspace Grp PLC:Proposes an interim dividend of 3.89 pence per share, which will be paid on Feb. 3, 2015 to shareholders on the register at Jan. 9, 2015.  Full Article

Workspace Group PLC proposed placing of new ordinary shares
Wednesday, 12 Nov 2014 02:01am EST 

Workspace Group PLC:Says cash-box placing of up to 14,627,492 new ordinary shares, representing about 9.99 pct of current issued share capital of company.Company intends to increase its debt facilities to provide additional funding, whilst maintaining an appropriate level of gearing.Proceeds are intended to be used to extend company's ongoing refurbishment pipeline, which is expected to enhance rental income and values.  Full Article

Workspace Grp PLC announces acquisition
Monday, 10 Nov 2014 02:00am EST 

Workspace Grp PLC:Announces the acquisition of 160 Fleet Street, London EC4 for 29.7m pound from Administrators acting for The National Asset Management Agency (NAMA).Says the property was previously owned and operated by the Business Environment Group.  Full Article

Workspace Group PLC announces sale of first phase of poplar business park
Tuesday, 30 Sep 2014 02:00am EDT 

Workspace Group PLC:Announce that it has contracted for sale residential element of first phase of its mixed use redevelopment at Poplar Business Park, E14 (Poplar") to Telford Homes plc.Says first phase of three in redevelopment comprises 170 apartments (of which 50 are affordable housing) and 8,000 sq.ft of light industrial space.  Full Article

Workspace Group PLC announces disposal of an industrial portfolio
Monday, 29 Sep 2014 02:01am EDT 

Workspace Group PLC:Says it has exchanged contracts for the disposal of a portfolio of non-core industrial estates for gross proceeds of 44.3 mln Pounds, to Capital Industrial One, BV.Says portfolio of 10 industrial sites, totalling 281,500 sq.ft was sold at a premium of 35 pct to the March 2014 valuation.  Full Article

Workspace Group PLC secures planning permission for redevelopment of Enterprise House in Hayes
Monday, 11 Aug 2014 02:00am EDT 

Workspace Group PLC:Secured planning permission for redevelopment of Enterprise House in Hayes, 50/50 joint venture with Polar Properties.Workspace's interest in joint venture was valued at 3 mln pounds as at 31 March 2014.Development will provide 98 apartments and 38,000 sq ft Business Centre for creative industries.Permission will enable Workspace and its joint venture partner, Polar Properties to create 150 jobs by providing new business space.Workspace plans to refurbish the grade II listed factory building which will provide 38,000 sq ft of space tailored to the needs of small businesses with particular focus on creative industries.One of existing tenants to be retained will be Vinyl Factory which specialise in producing high quality, limited edition, vinyl records.  Full Article

Workspace Group proposes final dividend
Wednesday, 4 Jun 2014 02:00am EDT 

Workspace Group PLC:Proposes a final dividend of 0.0709 pounds per share (2013: 0.0645 pounds).Payable on Aug. 1 to shareholders on the register at July 11.  Full Article

Workspace Group PLC entered into agreement with London & Quadrant Housing Association
Tuesday, 6 May 2014 02:03am EDT 

Workspace Group PLC:For redevelopment of its two acre Faircharm Estate in Creekside, Deptford, SE8.In May 2013 workspace obtained planning consent at this site for development of 148 apartments ana new 52,000 sq. ft. business centre.Construction of the centre will be undertaken by L&Q at no cost to Workspace.New centre is expected to be completed in mid-2016.  Full Article

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