Business
Disposals
Disposals.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 7793A CLS Holdings PLC 03 January 2018 \n\n \nCLS Holdings plc\nannounces disposals in Peterborough and Hamburg\n \nCLS 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 £12.4 million.\n \nClifton House and 126-128 Park Road in Peterborough were sold to a private investor for £6.2 million. The properties, which comprised 57,522 sq ft (5,344 sqm) of office space, were valued at £6.0 million at 30 June 2017.\n \nMerkurring 33-35 in Hamburg was sold to sold to a German real estate fund for €7.0 million. The property, which comprised 60,321 sq ft (5,604 sqm) of industrial and office space, was valued at €6.7 million at 30 June 2017.\n \nThe decision to sell these properties was driven by their small individual lot sizes and non-core locations.\n \nFredrik Widlund, Chief Executive of CLS, commented:\n \n\"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.\"\n \n-ends-\n \nFor further information, please contact:\n \n\n\n\n\nCLS Holdings plc \nwww.clsholdings.com \nFredrik Widlund, Chief Executive Officer\nJohn Whiteley, Chief Financial Officer\n \n\n\n+44 (0)20 7582 7766\n\n\n\n\nLiberum Capital Limited\nRichard Crawley\nJamie Richards\n \n\n\n+44 (0)20 3100 2222\n\n\n\n\nPanmure Gordon (UK) Limited\nDominic Morley\nAndrew Potts\n \n\n\n+44 (0)20 7886 2500\n \n\n\n\n\nElm Square Advisers Limited &nb...