CLS Holdings PLC Acquisition (9902V)
November 09 2017 - 2:01AM
UK Regulatory
TIDMCLI
RNS Number : 9902V
CLS Holdings PLC
09 November 2017
CLS Holdings plc ("CLS") announces the acquisition of
Columbia Bracknell
CLS announces that it has acquired Columbia Bracknell, a
multi-let office property in Bracknell, Berkshire for GBP14.7
million excluding costs.
The property comprises 54,291 sq ft (5,043 sqm) of office space
which, with an occupancy rate of 79%, currently generates an annual
rental income of GBP0.88 million, and a net initial yield of 5.6%.
Once fully let, it is expected to produce GBP1.17 million per
annum, reflecting a net initial yield of 7.5%.
Columbia Bracknell has been extensively refurbished throughout
and now has a diversified tenant base, providing a stable income
from 10 tenants and a weighted average unexpired lease term of 3.1
years. It is well-located between the main train station and the
town centre, which has recently undergone a GBP240 million
regeneration. The transaction will be financed from existing CLS
cash resources.
Fredrik Widlund, Chief Executive of CLS, commented:
"The acquisition of Columbia Bracknell is consistent with our
strategy of investing in multi-let, high-quality offices in and
around major cities across our three core markets: the UK, Germany,
and France. This acquisition complements our existing portfolio and
offers several opportunities for us to add value through active
management and to significantly increase the occupancy rate."
-ends-
For further information, please contact:
CLS Holdings plc
www.clsholdings.com
Fredrik Widlund, Chief Executive Officer +44 (0)20
John Whiteley, Chief Financial Officer 7582 7766
Liberum Capital Limited
Richard Crawley +44 (0)20
Jamie Richards 3100 2222
Panmure Gordon (UK) Limited
Dominic Morley +44 (0)20
Andrew Potts 7886 2500
Elm Square Advisers Limited +44 (0) 20
Jonathan Gray 7823 3695
Smithfield Consultants (Financial PR) +44 (0)20
Alex Simmons 3047 2476
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQGMMGMFRLGNZZ
(END) Dow Jones Newswires
November 09, 2017 02:01 ET (07:01 GMT)
Cls (LSE:CLI)
Historical Stock Chart
From Apr 2024 to May 2024
Cls (LSE:CLI)
Historical Stock Chart
From May 2023 to May 2024