Search Share Prices
Workspace gets planning permission for large Wood Green project
Workspace Group has been granted planning permission for a significant mixed-use redevelopment at its Chocolate Factory and Parma House properties in Wood Green, north London, it announced on Thursday.
The FTSE 250 company said the planning consent was for an "extensive" redevelopment across the 2.3 acre site, with 230 new homes, including 35% affordable housing, and 26,000 square feet of new office space, with the loss of 89,000 square feet of office and light industrial space.
It said the new office space would comprise a 6,000 square feet roof extension to the existing Chocolate Factory building, which was already undergoing refurbishment to provide 60,000 square feet of upgraded space and 20,000 square feet of new office space within the residential development.
The scheme would also provide a new public square and a pedestrian and cycle link connecting Haringey Heartlands with Wood Green Common.
Workspace said the Chocolate Factory and Parma House properties currently provided 149,000 square feet of office and industrial space, with a combined valuation of £31m as at 30 September 2017.
"We are delighted to have received planning permission for this major mixed-use redevelopment in Wood Green, an area which is undergoing an exciting transformation," said Workspace chief executive Jamie Hopkins.
"This consent at the Chocolate Factory adds to our extensive pipeline of refurbishment and redevelopment projects, upgrading the quality of our portfolio across London and driving value for shareholders over the long term."