Workspace has said it may dispose of McKay’s light industrial assets as a single portfolio, following “significant interest”.
Workspace completed its £272m takeover of office investment firm McKay earlier this month, after striking a deal in March.
McKay’s light industrial assets are mostly in the south east of England.
In an update to investors this morning, Workspace said its board had “decided to take certain courses of action which differ from the statements of intent” it made at the time of the deal.
As set out in the offer documentation, Workspace intended to “take advantage of attractive opportunities” to recycle some of McKay’s capital into more suitable assets, adding that this “may result in the disposal of certain assets, including light industrial properties”.
Workspace said today: “Since the scheme effective date of 6 May 2022, Workspace has received unsolicited indications of interest from a number of parties for the acquisition of the entire portfolio of light industrial assets formerly owned by McKay. Workspace confirms that it is now considering disposing of the light industrial assets.”
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