CLS Holdings Purchases Two Office Blocks For £10.6m

CLS Holdings has acquired two office properties for £10.6 million in London and the South East.

One Elmfield Park in Bromley comprises of 2,238sq m and has been bought for £4.5m.

CLS said when the current lease ends in July 2016, it intends to undertake a 'significant' refurbishment programme ahead of a re-launch in 2017.

In addition, Cassini Court and Pascal Place at Randalls Research Park in Surrey makes up 2,613sq m of office space across two buildings.


The site was purchased for £6.1 million.

A modernisation programme will be carried out at the site, which will be available for re-letting in 2016.

Sten Mortstedt, Executive Chairman of CLS Holdings, said: "These properties further bolster our core London and South East portfolio and are another example of CLS Holdings's commitment to identifying opportunities that allow the Group to exploit its extensive asset management credentials. We remain confident in the strength of the commercial property market in London and the South East and its ability to deliver long-term returns."

(LM/CD)