The first property is Surrey House in Lavington Street, Southwark, London SE1. It provides 16,695 sf of office space immediately next door to Workspace's existing Great Guildford Street business centre. The five-storey building is currently let to the Inland Revenue at £335,000 with new lease terms under negotiation. It was purchased for £5.0 million ($7.2 million).

The second property is Clerkenwell Workshops in Clerkenwell Close, London EC1, which has been acquired for £9.1 million ($13.1 million). The property comprises two multi-storey Victorian warehouse buildings totalling 69,583 sf let to 150 individual business sub-tenants. The property is let on a head-lease, which expires in 2003, at a current rent of £109,000 ($157,000) although Workspace gives it an estimated rental value of over £900,000 (1.3 million).

The third property is Union Court, Union Road, Clapham, London SW4, which has been bought for £6.5 million ($9.4 million). It comprises a 67,500-sf business centre which has recently been refurbished. It is currently 54% let producing a current rental incomeof £301,000 ($434,000) with an estimated rental value of £750,000 ($1.08 million) which represents a reversionary yield of 10.6%.