StockMarketWire.com - Office investor Workspace said it had exchanged contracts to acquire Stapleton House, also known as 'The Old Dairy', in Shoreditch, London for £43.4 million.

The property provided 57,000 square feet of net lettable space adjacent to Workspace's business centre, The Frames, which opened in 2017 following a refurbishment project.

The Old Dairy was currently 80% let and was being acquired at a net initial yield of 4.9% and a capital value of £761 per square foot.

Workspace said the acquisition was being funded from existing facilities.


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