Workspace Group said that it has received planning permission from Wandsworth Borough Council for its £ 85 mln (EUR 121 mln) development in a joint venture with Glebe. The two partners plan to regenerate the existing Wandsworth Business Village in south west London, transforming it into a new business centre. This will provide 94,000 sq ft (8,732 m2) of commercial space for small- and medium-sized businesses, 209 homes, a nursery/creche, a new cafe/retail space and a landscaped public square.
Workspace Group said that it has received planning permission from Wandsworth Borough Council for its £ 85 mln (EUR 121 mln) development in a joint venture with Glebe. The two partners plan to regenerate the existing Wandsworth Business Village in south west London, transforming it into a new business centre. This will provide 94,000 sq ft (8,732 m2) of commercial space for small- and medium-sized businesses, 209 homes, a nursery/creche, a new cafe/retail space and a landscaped public square.
The group also said that it has acquired the Neil House property in central London for £11 mln (EUR 16 mln) from Panther Securities. Workspace added that the 43,592 sq ft retail and office building produces an income of £415,260 per annum with an estimated rental value of £879,000 with 40% of the building vacant. When fully let, the property should provide an income yield of 8.1%.
