Press Release

Shoosmiths has advised Workspace Group PLC on the latest sale from the portfolio of assets it acquired as part of the purchase of McKay Securities.

The law firm’s real estate investment group assisted Workspace on the £82m deal that sees it complete the sale of five non-core properties in the south east of England - comprising light industrial and logistics properties in Bracknell, Crawley, Poyle, Theale and Weybridge.

Shoosmiths advised on all real estate aspects of the sale that exchanged in May 2023 and completed 28 June 2023. It follows the law firm supporting the owner and operator of flexible work space on its inaugural McKay portfolio sale - a medical centre in Newbury for £7.25m.

Leading the deal team at Shoosmiths was real estate partner and investment specialist, Liz McKillop Paley, supported by Emily Stocker, Nicholas Dalgleish, Becky Staunton and Amy Ryder. Andrew Outram also advised on construction matters, with David Mathias and Alex Jones supporting on planning and Daniel Kennedy on tax.

Liz McKillop Paley, real estate partner at Shoosmiths, said:

“Shoosmiths’ real estate investment group has been working closely with Workspace to help deliver its strategy following the acquisition of McKay in May 2022. This latest deal involves a substantial element of the non-core assets.

“We’re looking forward to advising the firm as it progresses the sale of further properties from the McKay portfolio, with Shoosmiths real estate bringing its legal expertise, investment experience and commerciality to every deal to ensure a successful outcome for clients.”

Richard Swayne, investment director at Workspace, said:

“We were delighted to work with Shoosmiths on this important transaction for Workspace. Liz and the team provided valuable counsel during this process and are a great partner for the business.”

The sale was to Tudor Investment Holdings Limited, acting as General Partner for ARGO DFI Logistics Partnership II LP.