CLI Cls Holdings Plc

 

TIDMCLI 
 
RNS Number : 1242V 
CLS Holdings PLC 
28 October 2010 
 

 
 
 
 
 
 
 
Release date:              28 October 2010 
Embargoed until:         07:00 
 
                                CLS HOLDINGS PLC 
                SIGNS 1,642 SQ M EXPANSION AND NEW 10 YEAR LEASE 
                          WITH DR. HÖNLE AG IN MUNICH 
 
CLS Holdings plc ("CLS") announces that it has agreed to develop a further 1,642 
sq m (17,674 sq ft) of space at its office and light industrial property, 
Gräfelfing, in Munich, Germany for its existing single tenant Dr. Hönle AG ("Dr. 
Hönle").   The new space is to be completed by the end of 2011, and has been 
let, along with the existing space, on an index-linked lease until October 2020 
with no breaks, forming an 8,527 sq m (91,783 sq ft) complex. 
 
The expanded space will produce EUR1,096,236 of income p.a., which equates to EUR120 
per sq m and represents a net initial yield of 7.7% of value to CLS.  With debt 
finance arranged by Deutsche Postbank AG, the initial return on equity is 18.3% 
p.a. 
 
Dr. Hönle is among the leading manufacturers of UV technology for industrial 
applications world-wide and is listed on the Prime Standard at the German Stock 
Exchange. 
 
Sten Mortstedt, Executive Chairman of CLS, commented: 
 
"We are delighted to expand and extend our relationship with Dr. Hönle with this 
pre-letting for new space.  Once again, it highlights the benefits of working 
closely with our tenants to meet their occupational needs, and provides further 
secure, long-term income for the Group." 
 
                                     -ends- 
 
For further information, please contact: 
 
CLS Holdings plc +44 (0)20 7582 7766 
www.clsholdings.com 
Sten Mortstedt, Executive Chairman 
Henry Klotz, Chief Executive Officer 
Richard Tice, Deputy Chief Executive Officer 
 
Kinmont Advisory 
   +44 (0)20 7087 9100 
Jonathan Gray 
 
Smithfield 
         +44 (0)20 7360 4900 
Alex Simmons 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCFEDFMWFSSEFS 
 

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