CLS Holdings announces sale of Lövgärdet in Sweden (UK/SE)

The Board of CLS Holdings plc has announced that it has sold the whole of its mixed residential and commercial complex at Lövgärdet, Gothenburg for a total price of SEK547 million (€63.3 mln, £40.5 mln).

These properties were purchased by CLS for SEK440 million (€51 mln, £29.4 mln) in January 2002 and were valued at 30 June 2005 at SEK550 million (€63.7 mln,
£38.9 mln).

This transaction reflects the Groups intention to concentrate on office and commercial investments.

Executive Chairman, Sten Mortstedt, commented: We have taken care to have chosen Stena Fastigheter AB who is a highly professional landlord, as the purchaser. They own a substantial portfolio of property in the area and we trust this will be of substantial lasting benefit to the tenants of Lövgärdet.

Source: CLS

Related News