WKP : Workspace buys in Fleet Street
Workspace Group is acquiring 160 Fleet Street for £29.7m. They describe it as “a beautiful Portland stone period building, originally constructed in the 1920’s and entirely refurbished in 2009 to include a new reception, gym, breakout areas and a dedicated suite of meeting rooms”. the building has 54,000 sq ft spread over seven floors and this includes a banking hall let to NatWest until 2023. The building is just 48% occupied at the moment and is throwing off a yield of 3.7% on that basis. It is already configured as serviced offices (the building was owned and operated by the Business Environment Group but ended up in the hands of NAMA).
