CLS to acquire multi-let office space in Staines for £19m; completes sale of residential development in Fulham

Wed, 8th Jan 2020

CLS said it had exchanged contracts to acquire a multi-let office space in Staines for £19m and confirmed it had completed the sale of a residential development in Fulham, London. 'TWENTY,' a multi-let office space in Kingston road, Staines, was currently let to four tenants with a weighted average unexpired lease term - a measure used to gauge the value of contracted rents in a property - of 5.4 years to breaks and had a vacancy of 23%, the company said. The office space had an attractive net initial yield of 5.3%, increasing to 7.0% once fully let, with completion planned for 3 February, it added. CLS also announced that it had completed the sale of Quayside Lodge in Fulham, London for £19m to a private developer. Story provided by StockMarketWire.com

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