REG - CLS Holdings PLC - CLS updates on further sales progress

CLS HoldingsAnnouncement

10/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240610:nRSJ6655Ra&default-theme=true

RNS Number : 6655R  CLS Holdings PLC  10 June 2024

 

 

 

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 (http://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.
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSSDFEWELSEDM