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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cls Holdings Plc | LSE:CLI | London | Ordinary Share | GB00BF044593 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.60 | 82.30 | 82.70 | 83.00 | 82.40 | 83.00 | 139,750 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 113M | -249.8M | -0.6286 | -1.31 | 327.47M |
TIDMCLI
RNS Number : 1279J
CLS Holdings PLC
07 September 2016
CLS Holdings plc
("CLS", the "Company", the "Group")
announces the completion of an acquisition in Düsseldorf
Further to our announcement on 11 July 2016, CLS confirms it has duly completed on the acquisition of Parsevalstrasse 11, Düsseldorf for EUR43.6 million including costs. The property generates net rental income of EUR3.1 million, reflecting a net initial yield of 7.1%, and has been financed with a local bank at an all-in cost fixed for seven years at 0.92%. The building benefits from a high occupancy rate and presents significant scope for future rental uplifts and other asset management opportunities.
Fredrik Widlund, Chief Executive of CLS, commented:
"We are delighted to have acquired this investment, which adds significantly to the Group's cash flow and provides strong asset management opportunities in the short to medium-term. The transaction underlines our ongoing confidence in the German property market and, as a long-term investor, we believe our broader European portfolio, with its diversified tenant base, will continue to provide a strong and stable income stream."
-ends-
For further information, please contact:
CLS Holdings plc www.clsholdings.com Henry Klotz, Executive Chairman Fredrik Widlund, Chief Executive Officer John Whiteley, Chief Financial Officer Sten Mortstedt, Executive Director +44 (0)20 7582 7766 Liberum Capital Limited Richard Crawley Jamie Richards +44 (0)20 3100 2222 Panmure Gordon (UK) Limited Dominic Morley Andrew Potts +44 (0)20 7886 2500 Elm Square Advisers Limited Jonathan Gray +44 (0)20 7823 3695 Smithfield Consultants (Financial PR) Alex Simmons +44 (0)20 7360 4900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 07, 2016 02:00 ET (06:00 GMT)
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