Business
Disposal of Cambridge House, London W6
Disposal of Cambridge House, London W6.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8767E CLS Holdings PLC 15 April 2014 \n\n \nRelease date: 15 April 2014\nEmbargoed until: Immediate\n \n \n \nCLS Holdings plc\n(\"CLS\", the \"Company\" or the \"Group\")\nannounces the disposal of Cambridge House, Hammersmith, London W6\n \n \nCLS Holdings plc announces that the Group has sold Cambridge House, 100 Cambridge Grove, London W6 for £29.5 million, excluding costs, an uplift of 65 % over the half year 2013 external valuation and 32% over the year end external valuation. The sale price represents a net initial yield of 2.34% for the property which, considered a development site, is 50% vacant.\n \nSten Mortstedt, Executive Chairman of CLS, commented:\n \n\"We are very pleased with the sale of Cambridge House, yet another transaction completed at a price substantially higher than recent external valuations. This is evidence of the continuing strength of the London market from which the Company is well placed to benefit.\"\n \n \n-ends-\n \nFor further information, please contact:\n \nCLS Holdings plc +44 (0)20 7582 7766\nwww.clsholdings.com \nSten Mortstedt, Executive Chairman\nHenry Klotz, Executive Vice Chairman and Acting CEO\nJohn Whiteley, Chief Financial Officer\n \nLiberum Capital Limited +44 (0)20 3100 2222\nTom Fyson\n \nCharles Stanley Securities  ...