Workspace Group plc announced that it has bought Southbank House business centre in London for £16m.
The group, which provides flexible business accommodation to small and medium-sized enterprises (SMEs) in London and the South East, said it acquired the property from Business Environment Group, a private operator of serviced business centres.
Southbank House is located in the heart of Vauxhall, London SE1, and has 212 lettable units.
'With Southbank House as part of our portfolio, we can further increase the range and style of accommodation that we can offer to our customers,' commented Harry Platt, Workspace chief executive.
'Looking to the future, we have targeted further acquisitions and I look forward to reporting further progress shortly.'