LONDON (dpa-AFX) - Workspace Group PLC (WKP.L), a real estate investment trust, said on Tuesday that it has signed a new lease deal with Wild Cosmetics following its acquisition by Unilever PLC(UNVB.DE, UNA.AS, UN, ULVR.L, UL).
Under this five-year agreement, Workspace Group will receive a net rent of £42 per sq. ft. The new lease deal will allow the cosmetics firm to move into Workspace Group's current head office at Kennington Park, with the Workspace Group moving its head office operations to the Centro Buildings in Camden.
The move is expected to take place in October. Following this, Wild Cosmetics will almost double its footprint with Workspace Group, expanding into 14,000 sq. ft. of space.
Lawrence Hutchings, CEO of Workspace Group, said: 'We're moving out of our head office at Kennington Park to make way for their expansion. This enables us to relocate our HQ to the Centro Buildings in Camden where our presence will have both a positive impact on occupancy and support the leasing of Atelier House, part of the Centro Building site. Atelier House is being refurbished into our small studio format opening early next year to serve the creators, innovators, disruptors and creators in this vibrant SME market.'
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