CLS Holdings Buys Office Building In Essen, Germany For EUR38 Million
Wed, 23rd Dec 2020 08:55
(Alliance News) - CLS Holdings PLC on Wednesday said it has acquired an office building in Essen, Germany for EUR38.2 million and has sold three properties in the UK and Germany.
The FTSE 250-listed commercial property investor said it has unconditionally exchanged contracts to acquire The Brix office building at Kruppstrasse 16 in Essen, Germany for EUR38.2 million. The 21,750 square metre property has a contracted rent of EUR1.72 million, and the purchase price represents a net initial yield of 4.2%. It is 72% let to three tenants, anchored by Siemens AG which occupies the majority of the space.
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