CLS Holdings has bought a portfolio of five UK properties from a private investor for £31.4m – an 8% yield.
The properties are freehold office assets, generate £2.5m pa in rent and have a weighted average unexpired lease term of 4.4 years.
The portfolio comprises 45 London Road, Reigate, Surrey; Harlequin House in Teddington, Richmond; Heather Court in Bexley; St Cloud Gate, Maidenhead, Berkshire; and The Crescent, Birmingham Business Park.
The acquisition was financed from existing funds.
Fredrik Widlund, chief executive of CLS, said: “We are delighted to have acquired these properties, which play to the group’s strengths, provide strong asset management opportunities in the short to medium-term, and add significantly to the group’s cash flow. The transaction underlines our continued commitment to, and confidence in, the UK economy, particularly in the South East.”
• To send feedback, email amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette
