19th Jan 2016 07:29
LONDON (Alliance News) - CLS Holdings PLC on Tuesday said it has completed the acquisition of two office properties in London and the South East for GBP10.6 million in total.
One Elmfield Park, Bromley, was bought for GBP4.5 million. CLS said that when the current leases end in July, it will undertake a significant refurbishment programme ahead of a relaunch in 2017.
Cassini Court and Pascal Place, Randalls Research Park, Leatherhead, Surrey, comprise two buildings bought for GBP6.1 million. CLS will undertake a modernisation programme of the properties, which will be available for reletting during the latter part of 2016.
"These properties further bolster our core London and South East portfolio and are another example of CLS Holdings's commitment to identifying opportunities that allow the group to exploit its extensive asset management credentials. We remain confident in the strength of the commercial property market in London and the South East and its ability to deliver long-term returns," Chairman Sten Mortstedt said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
CLS Holdings