Workspace disposes of two additional low-conviction assets

(Sharecast News) - Flexible work space provider Workspace Group has exchanged contracts for the disposal of two additional low-conviction assets for a total of £11.8m, in line with September 2025 valuations, at a net initial yield of 5.7%. Workspace said on Thursday that the assets being sold included Peer House near Gray's Inn Road, a 10,000 square foot office building, and Blocks A and B of Parkhall Business Centre in Dulwich, which was made up 23,000 square feet of light industrial and office space.

The FTSE 250-listed firm added that the remainder of Parkhall Business Centre, comprising 99,000 square feet of office, studio and workshop space, was being retained by Workspace as a conviction asset, in line with its recent portfolio review and strategy.

Taking into account its latest disposals, Workspace has now exchanged or completed on a total of £106m of low-conviction asset sales, against its two-year target of £200m.

Chief executive Lawrence Hutchings said: "Today's disposals are another disciplined step towards optimising our portfolio through our conviction‑led approach. Recycling capital out of lower-conviction assets sharpens our focus on the buildings where customer demand and returns are strongest. We're executing our Fix, Accelerate and Scale strategy at pace and remain firmly focused on rebuilding occupancy and delivering income-led shareholder returns."

Reporting by Iain Gilbert at Sharecast.com