CLS acquires office property in London for £53.9m

CLS acquires office property in London for £53.9m

CLS Holdings has acquired office property in London, 9 Prescot Street, for £53.9 million excluding costs.

The property is located on the fringe of the City in the Aldgate area, which continues to undergo significant regeneration, and is close to multiple key transport links including Fenchurch Street, Tower Hill, Aldgate East and Shadwell stations.

9 Prescot Street has 96,948 sq ft (9,007 sqm) of multi-let office space over seven floors and is 100% let to four tenants with a weighted average unexpired lease term of 2 years to breaks.

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Commenting on acquisition, Fredrik Widlund, Chief Executive Officer of CLS, said: “This is an exciting time for CLS. We continue to strengthen our portfolio through acquiring buildings in our key markets with strong asset management opportunities and have built an unrivalled portfolio which is resilient in the face of the economic uncertainty that is present across Europe.”