Workspace Group's shares rise after it confirms interest to snap up Salisbury House in the City in a £158m deal

 
Shruti Tripathi Chopra
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Buyers are circling Salisbury House in the City of London (Source: Thesalisbury.net)

Workspace Group's shares rose over four per cent this morning after the FTSE 250 office space provider confirmed its interest to snap up Salisbury House in the City in a £158m deal.

However, the group said there was “no certainty” for a deal for 28-31 Finsbury Circus.

In a statement to the London Stock Exchange, the group said: "Workspace confirms that it is in discussions for the asset in question. There can be no certainty that any transaction will proceed and a further announcement will be made by Workspace if and when appropriate."

Read more: London set to get the largest co-working space in the world

The news came a day after Workspace Group announced a 6.9 per cent rise in net rental income for the full year, to £79.2m.

However, its pre-tax profit dropped to £88.8m from £391.3m a year earlier.

Jamie Hopkins, chief executive, Workspace Group, said: ‍"Despite uncertainty in market following the EU referendum, we remain confident of our ability to deliver long-term value for shareholders. ​

"We continue to see healthy demand for our space and we have financial resources to take advantage of acquisition opportunities.

"We have a strong pipeline of refurbishments and redevelopments expected to deliver more than 1m sq ft. of new and upgraded space over next three years."

At the time of writing, Workspace Group's shares were up 4.05 per cent at 910p.

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