Workspace Group wins planning approval for London development

Workspace Group has received planning permission for the development of 148 apartments and a new 52,000 sq ft business centre for creative industries at its Faircharm estate in Deptford, London.

The company plans to redevelop two factory buildings to provide 46,400 sq ft of space tailored to the needs of small businesses in the creative sector.

Following completion, the scheme will include an additional 5,600 sq ft of newly built studio space and 148 new residential units.

"This is part of our wider redevelopment programme to enhance both core operational income and capital values by repositioning properties," said Chief Executive Officer, Jamie Hopkins.

"The Faircharm development will provide tailored space to the needs of small creative businesses, a capability which is at the heart of Workspace's key strengths."

Shares fell 0.32% to 377.10p at 10:59 Friday.

RD