- CLS Holdings said Tuesday that it has acquired Harman House, 1 George Street, Uxbridge, for £51m including costs.

The property comprises 129,060 sq. ft. (11,990 sqm) of office space arranged over nine floors which, with an occupancy rate of 98%, and currently generates an annual rental income of £3.52m, producing a net initial yield for CLS of 6.9%. The property has a reversionary rent profile with an estimated yield of 7.8% based on market rents.

Fredrik Widlund, Chief Executive of CLS, said: 'In line with our strategy, the acquisition of Harman House adds to our portfolio a high-yielding, multi-let office property adjacent to good transport links, and which offers a stable and diversified income stream from strong covenants. We believe there is significant scope for us to add value by capturing existing rental potential, and increasing it further through asset management initiatives.'

At 9:18am: [LON:CLI] CLS Holdings PLC share price was +2.25p at 237.75p

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