Workspace Group (LON:WKP) has announced the exchange of contracts for the disposal of Quality Court, off Chancery Lane in Holborn, for a total of £15.8m. The sale of the property is at a premium of 3% to the 30 September 2019 valuation, a net initial yield of 4.3% and a capital value of £930 per sq. ft.
The Grade II* listed building, 100 metres from Chancery Lane station, comprises 17,000 sq. ft. of net lettable space over five storeys.
Graham Clemett, Chief Executive Officer of Workspace Group, commented:
“We are pleased to have made this sale of a small office building at a premium to book value, providing capital to recycle into our project pipeline and new acquisitions.”
