Sale of Fangdieckstrasse, Hamburg
CLS Holdings plc has announced the unconditional exchange of its Fangdieckstrasse property in Hamburg for €25.35 million, a sale price 9% below its latest valuation. The property, comprising approximately 13,116 sqm of office, laboratory, and training space, is nearly fully let with a weighted average remaining lease term of just under seven years. The company has repositioned the site since its 2007 acquisition, transforming it into a life sciences campus. Completion of the sale is anticipated in Q4 2026, with the proceeds designated for debt reduction.
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Sale of Fangdieckstrasse, Hamburg for €25.3 million
CLS Holdings plc is pleased to announce the unconditional exchange of Fangdieckstrasse 75, 75a and 75b in Hamburg for €25.35 million, 9% below the latest valuation.
The property comprises approximately 13,116 sqm (141,180 sq. ft.) of office, laboratory and training space and is almost fully let, with a weighted average remaining lease term of just under seven years.
Since acquiring the property in 2007, CLS has actively repositioned the site through the expansion of laboratory and office space and the agreement of long-term leases, transforming it into a life sciences campus.
Completion is expected in Q4 2026 and the proceeds from the sale will be used to pay down debt.
Fredrik Widlund, Chief Executive Officer of CLS, commented:
"Following the successful repositioning of Fangdieckstrasse, we consider this the right time to dispose of the asset, further focusing our German portfolio and reducing debt. The transformation of the property into an almost fully let life sciences campus demonstrates the value that can be created through active asset management and close engagement with occupiers."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.