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BRIEF-CLS announces sale of site of its proposed mixed-use Vauxhall Square Development
April 5, 2017 / 11:27 AM / 6 months ago

BRIEF-CLS announces sale of site of its proposed mixed-use Vauxhall Square Development

April 5 (Reuters) - CLS Holdings Plc

* Sale of site of its proposed mixed-use vauxhall square development to r&f properties for £157.77 million

* At 31 December 2016, Vauxhall Square was valued at £100 million

* Will make a profit on disposal of about £40 million after costs, which will add some 70 pence to pro forma EPRA NAV

* R&F Properties will assume CLS’s obligations for relocation of hostel at 62 bondway, resulting in a net consideration of £144.1 million, received in cash at completion

* No debt secured against site and it is anticipated that full sale proceeds will be re-invested in co

* Expected that completion will be on or around 4 may 2017 Source text for Eikon: Further company coverage:

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