British commercial property investment firm, CLS Holdings, has sold two properties in the UK and one in France for a total of £39.8 mln (€48 mln).
The firm disposed of office properties Great West House, Brentford and 62 London Road, Staines in the UK. Meanwhile, in France, CLS sold an office asset at 96 Rue Nationale in Lille.
According to the firm, the three properties sold for an average 3.7% above the 31 December 2021 valuations.
Fredrik Widlund, CEO of CLS, commented: 'These disposals are in line with CLS’ asset management strategy and secure a significant return for CLS, capturing value for our investors while providing additional financial flexibility for the group.
'I look forward to updating investors further on our recent performance with the announcement of our half year results next week.'
CLS Holdings will release its half year results on 10 August, at which time it is expected to reveal further details of its recent disposals. In the past few months, the firm has been active in the German office market.
The firm focuses on future-proofed workspace assets in the UK, France and Germany.
