CLS Holdings PLC CLS announces the sale of three properties (9606D)
27 Junio 2023 - 1:00AM
UK Regulatory
TIDMCLI
RNS Number : 9606D
CLS Holdings PLC
27 June 2023
PRESS RELEASE
Release date: 27 June 2023
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")
CLS announces the sale of three properties at 7.5% above
valuation
CLS announces that it has unconditionally exchanged or completed
on three property disposals for a total of GBP49.0 million
excluding costs at an average of 7.5% above 31 December 2022
valuations.
CLS has unconditionally exchanged contracts to sell Westminster
Tower, Albert Embankment to Australian developer Third.i with
expected completion in September 2023. Having acquired the property
in 1987, it is one of the older properties in CLS' portfolio and
benefits from planning permission for a residential redevelopment
of the existing building, including the construction of three
additional floors, with views overlooking the River Thames and
Westminster.
CLS has also recently completed on the sale of a smaller office
property, St Cloud Gate in Maidenhead, UK and a legacy land holding
outside Helsingborg in Sweden with planning permission for
logistics.
Fredrik Widlund, Chief Executive Officer of CLS, commented:
"We remain focused on having the highest quality, sustainable,
offices in our locations. As part of our continuous evaluation of
our properties, including the ability to add value through planning
opportunities, these assets were no longer suitable for the tenants
we look to service, so I am delighted that we have been able to
generate such strong returns with all three properties selling
above 31 December 2022 valuations."
-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
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END
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