CLS Holdings acquires building in Munich EUR24.4m

6th May 2015 10:13

Property group CLS Holdings has acquired a fully-let office in Munich for €24.4m (£18m).In a statement on Wednesday, the FTSE 250 company said the building, located in Unterfoehring, north east of Munich, generates a rental income of €2m.The building "provides an excellent long-term income stream from blue-chip tenants," said group chief executive Sten Mortstedt."We continue to see potential in Germany and this acquisition will further enhance our offering in that market."CLS Holdings shares were up 0.16% to 1,826.00p.