CLI Cls Holdings Plc

RNS No 1005j
CLS HOLDINGS PLC
31st July 1997
 
CLS HOLDINGS PLC ACQUIRES LONDON HOUSE, HAMMERSMITH
 
CLS Holdings is pleased to announce the acquisition by one of its subsidiaries
of London House, Hammersmith for #1.375m.
 
The property which comprises approximately 1,389 square metres  (14,951 sq. ft.)
is currently run as a Business Centre producing a gross income of #414,000 per 
annum.  After expenses the net income is #188,000 per annum giving an initial
yield of 13.7 %.
 
CLS Chairman Sten Mortstedt commented:-
 
"This acquisition provides us with access into the short term letting market
which we believe has substantial cash flow rewards.
 
"The purchase of the property for less than #100 per sq. ft. is remarkably good 
value, given the current increase in rents and capital values in Hammersmith."
 
 
Contact :       
Glyn Hirsch, Chief Executive, CLS Holdings plc  0171 582 7766
Brian Basham/Clare Abbot, Basham & Coyle  0171 253 3300
 
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