Workspace sells Leyton industrial estate for GBP23m

22nd Oct 2015 08:15

(ShareCast News) - Property company Workspace Group has exchanged contracts for the disposal of an industrial estate in Leyton, London, Capital Industrial One BV for £23m .The estate, which totals 135,544 sq. ft., was sold at a premium of 25% to the March 2015 valuation and the disposal reflects a net initial yield of 4.8%.Chief executive officer Jamie Hopkins said: "We are delighted with the outcome we've achieved on this disposal. We saw significant interest in the site from a number of potential buyers and are pleased to have sold it at a substantial premium to its book value."At 0817 BST, Workspace shares were 1.2% lower at 930p.