Workspace exchanges contracts on £26m London site

30th Sep 2015 08:04

(ShareCast News) - Workspace Group said it had exchanged contracts to buy the former Mecca Bingo site in London's Wandsworth for £26.1m.The site is made up of a vacant 43,000 sq ft bingo hall and 200 space car park and had been a long-term land assembly target for Workspace, the group added.It sits next to Riverside, an existing 100,000 sq ft office and workshop building with a rent roll of £1.2m and valued at £15.8m as at 31 March 2015."The combined site provides nearly six acres of land with significant redevelopment potential. It is well located, close to Earlsfield station, which is one stop from Clapham Junction, a current mainline and proposed Crossrail 2 interchange station," Workspace chief executive Jamie Hopkins said."This is a hugely exciting purchase for Workspace of a site we have been tracking for some time. It provides the opportunity to create a major employment hub in Wandsworth, complementing the schemes that we have already delivered at Kennington Park and The Biscuit Factory in Bermondsey," he added.