CLS Holdings PLC Disposal (1793V)
November 01 2017 - 3:00AM
UK Regulatory
TIDMCLI
RNS Number : 1793V
CLS Holdings PLC
01 November 2017
CLS Holdings plc
("CLS", the "Company")
Disposal of Centenary Court, Bradford
CLS Holdings announces that it has completed the disposal of
Centenary Court, Bradford, to a private investor for GBP14.35
million. The current annual rent from the property is GBP2.3
million. The property, which comprises 105,200 sq ft (9,773 sqm)
and is let in its entirety to HMRC until April 2027, has a tenant
break clause effective April 2021. HMRC has made public its
intention to vacate the property and transfer its functions to a
regional centre.
The property was valued at 30 June 2017 at GBP14.35 million and
its disposal will not impact the Group's reported net asset value
at 30 June 2017.
Fredrik Widlund, Chief Executive Officer of CLS, said:
"Since its acquisition four years ago, Centenary Court has
generated strong double digit returns, but now is the time to
reinvest its capital into assets that better fit with the Group's
strategy and geographical focus in the south east of the UK."
For further information, please contact:
CLS Holdings plc
www.clsholdings.com
+44 (0)20 7582 7766
Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer
Liberum Capital Limited
+44 (0)20 3100 2222
Richard Crawley
Jamie Richards
Panmure Gordon (UK) Limited
+44 (0)20 7886 2500
Dominic Morley
Andrew Potts
Elm Square Advisers Limited
+44 (0)20 7823 3695
Jonathan Gray
Smithfield Consultants (Financial PR)
+44 (0)20 3047 2476
Alex Simmons
This information is provided by RNS
The company news service from the London Stock Exchange
END
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