Workspace sells Stratford Office Village

By Kasmira Jefford - Monday, September 11, 2017 10:54

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Workspace Group has sold Stratford Office Village in east London for £14m to an investment vehicle called Aquastrada.

The site, at 14/30 Romford Road close to the Stratford shopping centre, consists of 52,000 sq ft of self-contained offices.

In September last year, Workspace obtained planning consent to convert the office park into a mixed-use redevelopment comprising 101 homes and 13,000 sq. ft. of new commercial space.

The price is in line with the 31 March 2017 valuation. Workspace dealt directly with Aquastrada on the off-market transaction. Aquastrada is an investment vehicle established earlier this year by Simon James Blakebrough, managing director of Roquebrook, a property development company specialising in the hotel sector.

Jamie Hopkins, chief executive officer of Workspace, said: “Having gained residential planning consent on this site, we have benefited from the significant uplift in value and are delighted we have now exchanged contracts to sell the property. This sale demonstrates the value of our redevelopment pipeline, and we look forward to deploying the proceeds into our extensive pipeline of business centre refurbishments.”

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