CLS Holdings PLC

M&A Activity • Jun 28, 2013

Release date: 28 June 2013 Embargoed until: 07:00

CLS Holdings plc announces acquisition of €13.08 million multi-let office building in Freiburg, Germany

CLS Holdings plc announces that it has completed on the acquisition of a modern multi-let office building in the inner city of Freiburg, in south western Germany for €13.08 million before costs.

The fully let building generates rent of €1,235,410 per annum, giving a net initial yield of 8.75%. Debt has been provided by a regional Sparkasse lender.

The six occupiers include a government department, Commerzbank and KPMG.

The building provides lettable space of 7,135 sq m over nine floors, comprising 5,127 sq m of modern office accommodation, 1,247 sq m of retail space and 761 sq m archive storage space. In addition, there are 112 underground parking spaces let to the current tenants.

Sten Mortstedt, Executive Chairman of CLS Holdings plc, commented:

"I am very pleased with this well located acquisition in Germany, let to some high quality occupiers, which continues our strategy of focusing on high yielding, cost-effective offices with interesting management angles. I am also delighted to welcome a new lender to the Group."

-ends-

For further information, please contact:

CLS Holdings plc www.clsholdings.com Sten Mortstedt, Executive Chairman Henry Klotz, Executive Vice Chairman Richard Tice, Chief Executive Officer	+44 (0)20 7582 7766
Liberum Capital Limited Tom Fyson	+44 (0)20 3100 2222
Charles Stanley Securities Mark Taylor Hugh Rich	+44 (0)20 7149 6000
Kinmont Limited Jonathan Gray	+44 (0)20 7087 9100
Smithfield Consultants (Financial PR) Alex Simmons	+44 (0)20 7903 0669