StockMarketWire.com - CLS said it had exchanged contracts to acquire two office buildings in London boosting renal income.

The company was set to acquire two offices buildings at 6 Lloyds Avenue, City of London, EC3 -- currently 82% let to 27 tenants with a WAULT of 2.2 years -- and the Clockwork Building, Hammersmith, W6 -- 100% let to 6 tenants with a WAULT of 3.2 years.

The two properties would be acquired for £66.65m excluding costs and had a blended annual passing rent of £4.2m and a net initial yield for CLS of 6.2%, which would deliver a meaningful addition to CLS' rental income, the company said.

Completion was expected within four weeks, it added.




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