CLS Holdings PLC Acquires EU13m office building in Freiburg Germany (0504I)
June 28 2013 - 2:00AM
UK Regulatory
TIDMCLI
RNS Number : 0504I
CLS Holdings PLC
28 June 2013
Release date: 28 June 2013
Embargoed until: 07:00
CLS Holdings plc announces acquisition of
EUR13.08 million multi-let office building in Freiburg,
Germany
CLS Holdings plc announces that it has completed on the
acquisition of a modern multi-let office building in the inner city
of Freiburg, in south western Germany for EUR13.08 million before
costs.
The fully let building generates rent of EUR1,235,410 per annum,
giving a net initial yield of 8.75%. Debt has been provided by a
regional Sparkasse lender.
The six occupiers include a government department, Commerzbank
and KPMG.
The building provides lettable space of 7,135 sq m over nine
floors, comprising 5,127 sq m of modern office accommodation, 1,247
sq m of retail space and 761 sq m archive storage space. In
addition, there are 112 underground parking spaces let to the
current tenants.
Sten Mortstedt, Executive Chairman of CLS Holdings plc,
commented:
"I am very pleased with this well located acquisition in
Germany, let to some high quality occupiers, which continues our
strategy of focusing on high yielding, cost--effective offices with
interesting management angles. I am also delighted to welcome a new
lender to 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, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Charles Stanley Securities
Mark Taylor +44 (0)20 7149 6000
Hugh Rich
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
This information is provided by RNS
The company news service from the London Stock Exchange
END
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