Workspace sells Marshgate Business Centre – Workspace Group has exchanged contracts for the disposal of a mixed-use redevelopment of Marshgate Business Centre in Stratford, E15.
The redevelopment, comprising 200 residential units, has been sold for GBP15m in cash and the return of a new 33,000 sq. ft. business centre. The sale price is in line with the 31 March 2018 valuation.
Jamie Hopkins, chief executive officer of Workspace, commented: “Our redevelopment projects generate strong returns for shareholders and, having successfully received planning consent on Marshgate, we are pleased to have now sold this scheme at a price in line with its valuation. With continued demand for our inspiring spaces and customer offer, we are looking forward to receiving this new business centre in the dynamic and increasingly popular Stratford location.”
“Marshgate Business Centre provides light industrial spaces in Stratford with a modern yet industrial feel, complete with roller shutter doors. The industrial units benefit from having canal views and shared kitchenette facilities. Marshgate Business Centre is outside the congestion charge zone and has on-site parking. Its strategic location, only 100m to Pudding Mill DLR and 1 km from Bow Road and Mile End tube stations makes it ideal for businesses to get across London easily.”
WKP : Workspace sells Marshgate Business Centre