CLI Cls Holdings Plc

    Immediate Release: Tuesday 16 December 2008

                      CLS Holdings PLC ("CLS") announces                       

              the Sale of STEP 9 in Stuttgart-Vaihingen, Germany               

CLS is pleased to announce the sale of the office building STEP 9 in
Stuttgart-Vaihingen to Union Investment Real Estate AG for Euro12,855,029
(approximately �11.4m). The property was acquired in 2006 for Euro11.4m.

STEP 9 is a five storey multi let office building located in the Stuttgarter
Engineering Park in Stuttgart-Vaihingen and produces an income of Euro827,222 
(�717,052) per annum, representing a net initial yield of 6.4%.

The property was purchased by Union Investment Real Estate AG for their
institutional fund Immo-Invest Europe.

Executive Chairman of CLS, Sten Mortstedt, commented:

"We are happy to have sold this asset at an attractive price in the current
market. It reflects the quality and value of our portfolio."

                                  

For further information, please contact:

Sten Mortstedt, Executive Chairman

Henry Klotz, Chief Executive Officer

CLS Holdings plc

Tel: +44 20 7582 7766

www.clsholdings.com



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