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CLS acquires two properties in Berlin and Watford for £55.9 million
StockMarketWire.com
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Property investment company CLS said that it had unconditionally exchanged contracts to acquire two office properties in Berlin, Germany, and Watford, United Kingdom, for a combined £55.9 million.
The first property, acquired for €43.5 million, was a six-storey office composed of two adjoined buildings located in North-West Berlin and had an estimated reversionary yield of 5.6% once fully let, the company said.
The second property, Radius House, was located on Clarendon Road in Watford and was acquired from M&G Real Estate for £16.9 million. The current contracted rent of £1.04 million reflected a net initial yield of 5.6%, it added.
Story provided by StockMarketWire.com
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