CLS has completed the sale of Quayside Lodge in Fulham, London for £19.0 million to a private developer.
CLS achieved planning permission in 2018 for a 10-storey residential development designed by EPR Architects. The new development will provide 11,500 sq ft of office space, 110 homes, 35% of which will be affordable.
Fredrik Widlund, Chief Executive Officer of CLS, commented: “We continue to see a range of acquisition opportunities in the UK that are highly suited to our portfolio. We will also continue to recycle capital, when opportunities like Quayside arise, into new investments.”
Although CLS Holdings does not name the buyer, it said in July 2019 it had unconditionally exchanged contracts to sell to SMC Fulham. The building was acquired by CLS in 2004.