StockMarketWire.com - CLS Holdings has unconditionally exchanged contracts to sell three properties in Peterborough and Hamburg for a total consideration of £12.4m. Clifton House and 126-128 Park Road in Peterborough were sold to a private investor for £6.2m.

The properties, which comprised 57,522 sq ft (5,344 sqm) of office space, were valued at £6.0m at the end of June. Merkurring 33-35 in Hamburg was sold to sold to a German real estate fund for €7.0m.

The property, which comprised 60,321 sq ft (5,604 sqm) of industrial and office space, was valued at €6.7m at the end of June. CLS said the decision to sell these properties was driven by their small individual lot sizes and non-core locations. Chief executive Fredrik Widlund said: 'I am very pleased that we have begun the year with the sale of these three, smaller properties.

'Consistent with our strategy, the disposal of these non-core assets will allow us to re-invest in properties where there is more scope for us to add value through active asset management.'




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