The Real Estate Industry team advised Workspace Group PLC on the sale of the freehold interest in 13-17 Fitzroy Street, London to DWS for a price of £92 million.
The property provides 92,700ft² of net lettable space over lower ground, ground and six upper floors. It was fully let to Arup until June 2021, providing £4.9m of net rental income per year. The property is sold vacant with the benefit of planning permission for a substantial redevelopment. Goodwin also acted for Workspace on their acquisition of this property in 2017.
Workspace is a FTSE 250 Real Estate Investment Trust which owns 58 properties across 4 million sq. ft. in London. The company provides inspiring, flexible workspaces to 3,000 companies ranging from startups to established brands in dynamic London locations.
The Goodwin team was led by Simon Woodcock with assistance from Louise DeSouza, Robert Coleman-Lee, and Phoebe Boag, and from Rob Young and Amy Francis.
For additional details on the transaction, read the article in Bdailynews.