Workspace Group PLC (LSE:WKP), the flexible office space provider, said it is considering disposing of the light industrial assets formerly owned by McKay Securities as a single portfolio after receiving significant interest.
The London-based company acquired McKay Securities, a UK-based real estate investment trust, in March, following an agreed bid worth 209 pence in cash and 0.115 new Workspace shares.
McKay's portfolio mix of 34 assets valued at £490mln had nine light industrial assets valued at £155mln, including Theale Logistics Park, Poyle Trading Estate at Heathrow and Oakwood Trading Park at Crawley.
As part of an update on its post-offer intentions, Workspace said its board has taken various actions that differ from their earlier statements.
The offer document had noted Workspace's intention to recycle capital into other assets, including light industrial properties.
Since a number of parties have expressed interest in buying McKay's entire light industrial portfolio post the scheme's effective date of May 6, 2022, Workspace said it is now considering selling off its light industrial assets.