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CLS acquires Gotic Haus in Dortmund

30 May 2017 07:56

CLS Holdings has exchanged contracts to acquire a multi-let office property in Dortmund, Germany, for €35.6m, excluding costs, from a US investment manager. Gotic Haus, Westfalendamm 100, is a multi-let property comprising 22,296 sqm (239,992 sq ft) of office space which, with an occupancy rate of 94.6%, currently generates a rental income of €2.8 million per annum, reflecting a net initial yield of 7.1%.

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