StockMarketWire.com - CLS said it had completed the acquisition of a multi-let office building Pacific House in Reading for £14.9m excluding costs. The acquisition had a net initial yield of 7.3%. The building, located to the south of Reading, was 92% let to seven tenants with a weighted average unexpired lease term of four years.

The property was positioned near the M4 motorway and the planned Green Park train station. 'CLS intends to conduct a number of upgrades to the building while focusing on leasing the remaining space in the building over the next few years,' the company said.

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