London-based Workspace has paid Tonex Properties £81m for a portfolio of business centres and industrial estates.
The portfolio currently generates £6.8m pa reflecting a 9.1% yield. Workspace plans to finance the acquisition through a £122m securitisation.
The company’s shares rose 7 1/2p yesterday to 615p.
The Times 23/06/99 page 24 (Business Roundup)
