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CLS Holdings Sells Six UK Properties For GBP7.4 Million

10th Sep 2015 06:37

LONDON (Alliance News) - Property company CLS Holdings PLC on Thursday said it has exchanged contracts on the sale of properties in the UK worth GBP7.4 million.

FTSE 250-listed CLS said the sale is GBP1.6 million above the external valuation of the properties as of December 31, 2014, but in line with the valuation of the sites on June 30 this year.

The properties includes sites in Cardiff, Manchester, Paisley, St Helens, Swansea and Ipswich.

"I am very pleased to announce the sale of these six properties at a premium to their December 31, 2014 valuations in a transaction that is another example of the company's proactive and opportunistic management of its assets," said CLS Executive Chairman Sten Mortstedt.

"Their disposal frees our in-house management team to concentrate on those UK properties which we believe can deliver more significant returns in the medium to long term," Mortstedt added.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.


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