UK commercial property investor CLS Holdings has purchased a portfolio of five office properties in the UK from a private investor for £31.4 mln (€36 mln), representing a net initial yield of 8%.
'The transaction underlines our continued commitment to, and confidence in, the UK economy, particularly in the South East,' Fredrik Widlund, chief executive of CLS.
The properties, located in the South East and West Midlands regions, have an aggregate area of 9,940 m2 and a weighted average unexpired lease term of 4.4 years.
According to CLS Holdings, the portfolio offers development potential, as well as the opportunity to work with existing and potential new tenants. The acquisition was financed from existing funds.
