Workspace offloads Woking redevelopment site

Workspace Group has offloaded a Woking residential redevelopment site that it took on when it bought McKay Securities in 2022. The company has sold The Planets to an unnamed buyer for £13m, an 18% premium to its March 2024 valuation. The site has planning consent for 366 homes. Workspace chief executive Graham Clemett said: “This disposal is a further example of our strategy to continually recycle capital into our extensive project pipeline, whilst also strengthening our balance sheet.”