Workspace, Pursued by Saba, Weighs Sale of Prize London Office

Workspace Group Plc, the flexible London office landlord that’s being targeted by activist investor Saba Capital, is weighing the sale of its most valuable asset as the company seeks to raise capital.

The firm is working with an adviser to explore a potential sale of Salisbury House, the most valuable property in its portfolio, people with knowledge of the process said. The building — which generates more rent than any other Workspace asset according to the company’s annual report — is expected to attract bids in the region of £125 million ($170 million), the people said, asking not to be identified as the plan is private.