CLI Cls Holdings Plc

 

TIDMCLI 
 
RNS Number : 9080T 
CLS Holdings PLC 
06 October 2010 
 

 
Release date:              6 October 2010 
Embargoed until:         07:00 
 
                                CLS HOLDINGS PLC 
          ACQUIRES COLT TELECOM'S DATA CENTRE AND FRENCH HQ IN PARIS 
                               FOR EUR14.33 MILLION 
 
CLS Holdings plc ("CLS") announces today that its wholly owned subsidiary 
Citadel Holdings plc has completed the EUR14.33 million acquisition of Colt 
Telecom's Data Centre and French HQ at 23/27 Rue Pierre Vallette, in the 
Southern suburb of Malakoff, Paris. 
 
The 10,778 sq m (116,014 sq ft) office and industrial property produces EUR1.121 
million p.a., which equates to EUR104 per sq m and represents an initial yield of 
7.38% to CLS.  With the debt finance arranged by Crédit Foncier de France, the 
initial return on equity is 15.26% p.a. 
 
The property is let on an indexed lease until September 2018 with no breaks. 
Colt Telecom Group SA ("Colt Telecom") is a FTSE 250 company specialising in 
fibre optic networks. This building is one of their major European data centres. 
Colt Telecom renewed their lease in 2009 and has invested very significantly in 
the property for their data rooms and network hub wiring. 
 
The building is close to the Quator office property already owned by CLS in 
Montrouge. 
 
Sten Mortstedt, Executive Chairman of CLS, commented: 
 
"Positioned close to central Paris, with a strong multi-national corporation as 
tenant on a long term lease, this acquisition continues our investment strategy 
of focussing on high cash on cash returns. With its stable, indexed cash flows, 
it will be a strong addition to our portfolio." 
 
                                     -ends- 
For further information, please contact: 
 
CLS Holdings plc                     Sten Mortstedt, Executive Chairman 
      +44 (0)20 7582 7766 
                                              Henry Klotz, Chief Executive 
Officer 
                                              Richard Tice, Deputy Chief 
Executive Officer 
 
Kinmont Limited                       Jonathan Gray +44 (0)20 7087 9100 
 
Smithfield Consultants              Alex Simmons 
                 +44 (0)20 7360 4900 
                                              Will Swan 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQDMMGGKKRGGZM 
 

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