Sale of property in France
February 06 2006 - 2:00AM
UK Regulatory
Release date: 06 February 2006
Embargoed until: 07:00hrs
CLS HOLDINGS PLC ANNOUNCES
SALE OF PROPERTY IN FRANCE
The Board of CLS Holdings plc ("CLS") is pleased to announce the sale by its
wholly owned subsidiary Citadel Holdings plc of Le 41 building in La D�fense,
Paris for Euro22.3 million (�15.3 million).
The property comprising 6,026 sq m (64,864 sq ft) and fully let to IBM until
December 2004, was purchased by CLS in 1998 for Euro11.7 million (�7.4 million)
and was valued as at 30 June 2005 at Euro21.4 million (�14.7 million).
The property had been vacant for 12 months following the departure of IBM and
was purchased by the financial accounting firm, Fiducial, for its own
occupation.
Executive Chairman, Sten Mortstedt, commented:
"We are delighted to have sold this property at a very attractive price. The
property has yielded excellent returns over our period of ownership and after
this sale the vacancy rate of our French portfolio is just 3.0 per cent."
-ends-
For further information, please contact:
Sten Mortstedt, Executive Chairman
Per Sj�berg, Chief Executive Officer
Dan B�verstam Chief Financial Officer
CLS Holdings plc
www.clsholdings.com
Tel. +44 (0)20 7582 7766
Ben Simons
Hansard Communications
Tel. +44 (0)20 7245 1100
END
Cls (LSE:CLI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cls (LSE:CLI)
Historical Stock Chart
From Jul 2023 to Jul 2024