Market Leads & Opportunities
Workspace Group secures planning permission for East London site
Workspace Group on Monday secured planning consent alongside Canada Life Investments for a significant mixed-use redevelopment on their adjoining properties in Limehouse, East London.The real estate investment trust’s share of the planning consent, which is 44% of the total, comprises 117 residential units and 31,000 square feet of new commercial space out of a total of 264 units and 70,000 square feet.This will allow the company to replace the current 19,800 square foot light industrial building which was valued at £10.8m as at 30 September 2018.The FTSE 250-listed company said that the “attractively located” site is just a short walk from both Limehouse and Shadwell railway stations.Workspace Group’s shares were down 0.10% at 975.00p at 0905 BST.
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