CLS Holdings Sells Spring Mews Student Accommodation for £101.1 Million

An announcement from CLS Holdings ( (GB:CLI) ) is now available.

CLS Holdings plc has announced the sale of its Spring Mews Student accommodation in Vauxhall, London, to Rosethorn Capital Partners and Barings for £101.1 million. This transaction aligns with the property’s 2024 valuation and exceeds the 2023 year-end valuation by 8.1%. The sale will help CLS address upcoming loan maturities by substituting properties into an existing portfolio loan with Aviva Investors, allowing for the repayment of £85.8 million of debt. This strategic move is expected to enhance earnings marginally, reduce the company’s cost of debt by over 20 basis points, and lower its loan-to-value ratio from 50.7% to 47.9%.

More about CLS Holdings

CLS Holdings plc operates in the real estate industry, focusing on the development and management of commercial properties. The company is involved in creating mixed-use developments, including student accommodations, hotels, and offices, with a market focus on maximizing asset value through strategic operations and sales.

YTD Price Performance: -9.03%

Average Trading Volume: 660,236

Technical Sentiment Signal: Strong Buy

Current Market Cap: £280.2M

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