CLS Holdings PLC Disposals (7793A)

TIDMCLI

RNS Number : 7793A

CLS Holdings PLC

03 January 2018

CLS Holdings plc

announces disposals in Peterborough and Hamburg

CLS Holdings plc ("CLS", the "Group") announces that it has unconditionally exchanged contracts to sell three properties in Peterborough, UK and Hamburg, Germany for a total consideration of GBP12.4 million.

Clifton House and 126-128 Park Road in Peterborough were sold to a private investor for GBP6.2 million. The properties, which comprised 57,522 sq ft (5,344 sqm) of office space, were valued at GBP6.0 million at 30 June 2017.

Merkurring 33-35 in Hamburg was sold to sold to a German real estate fund for EUR7.0 million. The property, which comprised 60,321 sq ft (5,604 sqm) of industrial and office space, was valued at EUR6.7 million at 30 June 2017.

The decision to sell these properties was driven by their small individual lot sizes and non-core locations.

Fredrik Widlund, Chief Executive of CLS, commented:

"I am very pleased that we have begun the year with the sale of these three, smaller properties. Consistent with our strategy, the disposal of these non-core assets will allow us to re-invest in properties where there is more scope for us to add value through active asset management."

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For further information, please contact:

 
 CLS Holdings plc 
  www.clsholdings.com 
  Fredrik Widlund, Chief Executive Officer    +44 (0)20 
  John Whiteley, Chief Financial Officer       7582 7766 
 Liberum Capital Limited 
  Richard Crawley                             +44 (0)20 
  Jamie Richards                               3100 2222 
 Panmure Gordon (UK) Limited 
  Dominic Morley                              +44 (0)20 
  Andrew Potts                                 7886 2500 
 Elm Square Advisers Limited                  +44 (0) 20 
  Jonathan Gray                                7823 3695 
 Smithfield Consultants (Financial PR)        +44 (0)20 
  Alex Simmons                                 7360 4900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 03, 2018 02:00 ET (07:00 GMT)