Disposal

RNS Number : 1793V

CLS Holdings PLC

01 November 2017

 

CLS Holdings plc

("CLS", the "Company")

Disposal of Centenary Court, Bradford

CLS Holdings announces that it has completed the disposal of Centenary Court, Bradford, to a private investor for £14.35 million.  The current annual rent from the property is £2.3 million.  The property, which comprises 105,200 sq ft (9,773 sqm) and is let in its entirety to HMRC until April 2027, has a tenant break clause effective April 2021.  HMRC has made public its intention to vacate the property and transfer its functions to a regional centre. 

The property was valued at 30 June 2017 at £14.35 million and its disposal will not impact the Group's reported net asset value at 30 June 2017. 

Fredrik Widlund, Chief Executive Officer of CLS, said:

"Since its acquisition four years ago, Centenary Court has generated strong double digit returns, but now is the time to reinvest its capital into assets that better fit with the Group's strategy and geographical focus in the south east of the UK."

For further information, please contact:

CLS Holdings plc     
www.clsholdings.com   
[phone]

Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer

Liberum Capital Limited
[phone]
Richard Crawley

Jamie Richards

Panmure Gordon (UK) Limited
[phone]
Dominic Morley
Andrew Potts

Elm Square Advisers Limited   
[phone]
Jonathan Gray

Smithfield Consultants (Financial PR) 
[phone]
Alex Simmons

 

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