CLS selling six properties for £7.4m

10th Sep 2015 07:42

(ShareCast News) - CLS Holdings said it was selling six UK properties for a total of £7.4m.The company said the total sale value was £1.6m above their external valuation at 31 December 2014, but in line with those at 30 June 2015. It added that contracts had been exchanged on all properties.Five of the six properties were acquired in September 2013 as part of a UK-wide portfolio of 34 properties and the decision to dispose of them was driven by their location and relative size in relation to the Company's broader strategy, CLS added.Chief executive Sten Mortstedt said the disposal frees CLS "to concentrate on those UK properties which we believe can deliver more significant returns in the medium to long term".