UK-based CLS Holdings plc has paid €5.2m (££3,536,000) for an office building in Paris.
The building at 6 rue Van Gogh, 93560 Neuilly Plaisance comprises 2,572 sq m (27,685 sq ft) of office space and was built in 1991. Located on the east side of Paris, Neuilly Plaisance, is 25 km from central Paris. CLS bought the building through its wholly owned subsidiary Citadel Holdings plc. The property is multi-let and produces a rental income of 397,620 (£270,381.60) providing a return on equity of 18.4.
Executive Chairman of CLS, Sten Mortstedt commented: "We are very pleased with this good quality office property in the Paris region which offers attractive returns in line with our successful operations in France."