15th Apr 2014 11:34
LONDON (Alliance News) - CLS Holdings Tuesday said it has sold Cambridge House in Hammersmith west London to an unnamed firm in a deal worth GBP29.5 million, an uplift of 65% over the half-year 2013 external valuation and 32% over the year-end external valuation.
The property firm said the sale price reflects a net initial yield of 2.3%.
"We are very pleased with the sale of Cambridge House, yet another transaction completed at a price substantially higher than recent external valuations," Executive Chairman Sten Mortsedt said in a statement. "This is evidence of the continuing strength of the London market from which the Company is well placed to benefit."
The stock was trading at 1,286.25 pence Tuesday afternoon, up 6.25 pence or 0.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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