Release date:
10 June
2024
CLS Holdings plc ("CLS" or the "Group")
CLS updates on further sales progress
CLS announces that
it has sold or unconditionally exchanged on the sale of two further
properties for a total of £10.7 million, at an average discount of
5.0% below 31 December 2023 valuations.
· Aqueous II, Aston Cross Business Park,
Birmingham is a 35,992 sq. ft (3,344 sqm) office building
constructed 1996, completed on 5 June.
· Hansastrasse, Dortmund, a 42,902 sq. ft
(3,986 sqm) office building originally constructed 1957,
unconditionally exchanged on 29 May with completion targeted for
early July.
As previously
announced, the completion of the sale of Quatuor in Paris for €11.1
million, 2.8% ahead of the June 2023 valuation, completed on 14 May
and the sale of Westminster Tower in London for £40.8 million,
in-line with its 31 December 2023 valuation, completed on 7 June
with half of the sale proceeds received and the remainder deferred
for three months.
The sales process
for Spring Mews Student (PBSA) has generated significant interest
and we have received first stage bids from several parties that we
are currently analysing.
Fredrik Widlund,
Chief Executive Officer of CLS, commented:
"We remain focused on
having the highest quality, sustainable, modern offices in our
locations. Both properties recently sold were part of previous
portfolio acquisitions and no longer align with our long-term
strategic objectives. We have significant opportunities in our
portfolio and the disposals are in line with our previously
announced strategy to reduce leverage in preparation for
growth."
-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
Jamie Richards
+44 (0)20 3100 2123
Panmure
Gordon
Hugh Rich
+44 (0)20 7886 2733
Berenberg
Matthew Armitt
Richard Bootle
+44 (0) 203 207 7800
Edelman Smithfield
(Financial PR)
Alex Simmons
Hastings Tarrant
+44 (0)20 3047 2546
cls@edelmansmithfield.com
Registered in England No.
2714781. Registered Office as above.
