CLS Holdings plc
("CLS", the "Company", the "Group")
Disposal of Benwell House, Sunbury-on-Thames
CLS Holdings plc announces that it has completed the disposal of Benwell House, Green Street, Sunbury-on-Thames to Spelthorne Borough Council for £9.25 million. The property comprises 25,587 sq ft (2,377 sq m) and was let in its entirety to Schindler Limited until March 2017. Following the expiry of the lease, a strategic assessment of the building identified it as having potential for alternative uses in addition to its existing office use. It was acquired by CLS in 2013 and was valued at 30 June 2017 at £7.5 million.
Fredrik Widlund, Chief Executive Officer of CLS, said:
"Since its acquisition four years ago, Benwell House has generated a good return for CLS, and we have now chosen to sell the building with the potential for a change of use and to reinvest the proceeds into assets that fit better with the Group's strategy."
For further information, please contact:
CLS Holdings plc
www.clsholdings.com
+44 (0)20 7582 7766
Fredrik Widlund, Chief Executive Officer
John Whiteley, Chief Financial Officer
Liberum Capital Limited
+44 (0)20 3100 2222
Richard Crawley
Jamie Richards
Panmure Gordon (UK) Limited
+44 (0)20 7886 2500
Dominic Morley
Andrew Potts
Elm Square Advisers Limited
+44 (0)20 7823 3695
Jonathan Gray
Smithfield Consultants (Financial PR)
+44 (0)20 3047 2476
Alex Simmons