CLS Holdings PLC Acquisition (4365O)
June 01 2020 - 2:00AM
UK Regulatory
TIDMCLI
RNS Number : 4365O
CLS Holdings PLC
01 June 2020
Release date: 1 June 2020
Embargoed until: 07:00 am
CLS Holdings plc ("CLS")
announces the acquisition of Georg-Elser-Strasse 7 in
Nuremberg
CLS announces that it has acquired Georg-Elser-Strasse 7,
Nuremberg for EUR18.2 million excluding costs.
Georg-Elser-Strasse 7 was built in 2014 and is a modern,
four-storey office building comprising 5,913 sqm (63,647 sq. ft) of
space fully let to leading German telecommunications company,
Deutsche Telekom. The building is well located in Hansapark, a
business park near the Telecommunication Tower in the south-west of
Nuremberg, the second largest city in Bavaria after Munich. The
building is close to Hohe Marter underground station which provides
fast access to both the central station and Nuremberg airport.
The asset has a WAULT of 7 years to breaks with EUR1.1 million
net rent per annum, reflecting a net initial yield of 5.8%. The
building will provide strong, consistent income for CLS, adding
Deutsche Telekom to its tenant base which was 48% let to
governments and major corporations as at 31 December 2019.
The acquisition will be financed by CLS and Sparkasse
Nürnberg.
Fredrik Widlund, Chief Executive Officer of CLS, commented:
"This deal brings another compelling property and an exceptional
tenant to the CLS portfolio. The long lease remaining on the
building will give consistent income at a strong yield, while
allowing us to explore ways to deliver further value over the
longer-term. Nuremberg is an exciting and growing city for business
and the asset's quality and proximity to key transport links will
ensure it remains an attractive proposition."
-ends-
For further information, please contact:
CLS Holdings plc
(LEI: 213800A357TKB2TD9U78)
www.clsholdings.com
Fredrik Widlund, Chief Executive Officer
Andrew Kirkman, Chief Financial Officer
+44 (0)20 7582 7766
Liberum Capital Limited
Richard Crawley
Jamie Richards
+44 (0)20 3100 2222
Whitman Howard
Hugh Rich
+44 (0)20 7659 1261
Elm Square Advisers Limited
Jonathan Gray
+44 (0)20 7823 3695
Smithfield Consultants (Financial PR)
Alex Simmons
Rob Yates
+44 (0)20 3047 2546
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END
ACQGZGZKVLZGGZM
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