CLS Holdings has acquired two office properties in London and the South East for a total of £10.6m and confirmed plans to refurbish both blocks.
One Elmfield Park in Bromley comprises 2,238 sq m of office space and has been acquired for £4.5m.
When the current leases come to an end in July 2016, CLS intends to undertake a significant refurbishment programme ahead of a re-launch in 2017.
Cassini Court and Pascal Place at Randalls Research Park in Leatherhead comprise 2,613 sq m of office space across two buildings which were purchased for a total of £6.1m.
CLS will undertake a modernisation programme of the properties, which will be available for reletting during the latter part of 2016.
Sten Mortstedt, Executive Chairman of CLS Holdings plc, said: “These properties further bolster our core London and South East portfolio and are another example of CLS Holdings’s commitment to identifying opportunities that allow the Group to exploit its extensive asset management credentials.
“We remain confident in the strength of the commercial property market in London and the South East and its ability to deliver long-term returns.”
