Last checked at 20 Aug 2009 07:00
Embargoed Release: 07:00hrs 20 August 2009
CLS HOLDINGS PLC ("CLS") ANNOUNCES THE SALE OF 2 DEANERY STREET, LONDON FOR 2.23 MILLION
The Board of CLS is pleased to announce the sale of 2 Deanery Street, London W1 to Malcom Paul Atkins, a Knightsbridge based residential property developer. The property was sold for 2.23 million with vacant possession.
2 Deanery Street is a Grade II Listed terrace property and provides 197 sq m (2,117 sq ft) net internal office accommodation, over lower-ground, basement and three upper floors. CLS acquired the property in 1988 for 1.15 million. The sale represents a 17.4% increase to the December 2008 valuation.
Savills and Cushman Wakefield acted on behalf of CLS and Jeffries Land acted on behalf of Malcom Paul Atkins.
Executive Chairman of CLS, Sten Mortstedt, commented:
"Deanery Street has performed well as an asset for a number of years, however as a non core holding we are delighted to complete this sale and at a price which was well in excess of the December valuation."
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For further information, please contact:
Sten Mortstedt, Executive Chairman
Henry Klotz, Chief Executive Officer
CLS Holdings plcTel. +44 (0)20 7582 7766www.clsholdings.com
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