Flexible office operator Workspace Group has sold its Highway Business Park in Limehouse, E14.
The property has been bought alongside an adjoining property owned by Canada Life Investments.
Highway Business Park comprises 20,000 sq ft of light industrial space. Workspace will receive £23.7m for its share of the sale, more than double the 30 September 2021 valuation of £11.6m.
Chief executive Graham Clemett said: “Highway Business Park is a site where we had previously gained planning consent for a mixed-use scheme comprising residential units and a new business centre in an attractive east London location. However, we are always focused on maximising value from our assets and, in this case, we have achieved a significantly higher return by selling the site for an urban logistics scheme.”
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