Business
Sale of Properties
Sale of Properties.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nFor Immediate Release: Thursday 28 August 2008\n\n CLS HOLDINGS PLC (\"CLS\") \n\n ANNOUNCES THE SALE OF \n\n TWO PROPERTIES IN HAMMERSMITH, LONDON \n\nThe Board of CLS is pleased to announce the sale of the freehold interests in\n271-273 King Street (known as London House) and 275/281 King Street,\nHammersmith to Matterhorn Capital St Josephs Two for a total price of £7.804m,\nrepresenting an initial yield of 6.95%.\n\n275/281 King Street is a six storey multi let office building occupying a\nprominent position opposite Ravenscourt Park. It comprises 20,399 sq ft (1,890\nsqm) and is let to H&F Bridge Partnership Limited, Kayhan Publishing Limited\nand as a business centre.\n\nCLS acquired 275/281 King Street in 1999 for £3.4m and London House in 1997 for\n£1.375m. The sale represents a 1.3% discount on the June 2008 valuation.\n\nExecutive Chairman of CLS, Sten Mortstedt, commented:\n\n\"We are very pleased to have sold these properties in the current market\nespecially as approximately 50% of the buildings are due to be vacated in\nDecember 2008.\"\n\n -ends- \n\nFor further information, please contact:\n\nSten Mortstedt, Executive Chairman\n\nHenry Klotz, Chief Executive Officer\n\nCLS Holdings plc\n\nTel: +44 (0)20 7582 7766\n\nwww.clsholdings.com\n\n\n\n Registered in England No. 2714781. Registered Office: 86 Bondway, London SW8 \n 1SF \n\n\n \n ","length":1783,"tagName":"div"}]