CLS sells Cambridge House in London for €35.7 mln (UK)

CLS Holdings plc announced that the Group has sold Cambridge House, 100 Cambridge Grove, London W6 for £29.5 million (approx. €35.74 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.

Sten Mortstedt, Executive Chairman of CLS, commented: “We are very pleased with the sale of Cambridge House, 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.”

Source: CLS Holdings

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