CLS Holdings buys two London sites for £66m

CLS Holdings said it had bought two office buildings in London for £66.65m excluding costs. The properties have a blended annual passing rent of £4.2m and a net initial yield of 6.2%, which would provide a “meaningful” addition to the company's rental income.

The company said it would pay for the acquisitions through existing resources and bank financing. Completion is expected within four weeks.