CLS Holdings PLC Disposal (7074C)
October 13 2022 - 2:00AM
UK Regulatory
TIDMCLI
RNS Number : 7074C
CLS Holdings PLC
13 October 2022
PRESS RELEASE
Release date: 13 October 2022
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")
CLS announces the sale of Sentinel House for GBP7.0 million,
4.5% above valuation
CLS announces that it has simultaneously exchanged and completed
on the sale of Sentinel House in Coulsdon, Greater London, for
GBP7.0 million excluding costs.
Sentinel House was acquired by CLS in 2012 and consists of 3,211
sqm (36,711 sq. ft) of office space over 3 floors with ancillary
car parking. Throughout our ownership the asset has been let on an
FRI basis to IHS Global Limited which will expire at the end of
2022.
The sale, at a price 4.5% above the 30 June 2022 valuation,
allows CLS to crystallise the returns on the asset while releasing
capital to strengthen its liquid resources.
Fredrik Widlund, Chief Executive Officer of CLS, commented:
"The sale of Sentinel House is in line with CLS' asset
management strategy and secures a significant return on the asset,
capturing value for investors while increasing financial
flexibility for the Group. The Group remains convinced of the
attractions of well-located, high-quality offices in non-prime
locations whilst continually assessing whether to hold or sell
properties in-line with CLS' business model."
-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
Panmure Gordon
Hugh Rich
+44 (0)20 7886 2733
Berenberg
Matthew Armitt
Richard Bootle
+44 (0)20 3207 7800
Edelman Smithfield (Financial PR)
Alex Simmons
Hastings Tarrant
+44 (0)20 3047 2546
Registered in England No. 2714781. Registered Office as
above.
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END
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