CLS Holdings portfolio sees surge in value

Kasmira Jefford
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CLS HOLDINGS has seen the value of its portfolio jump four per cent to £1.4bn in the past six months on the back of the economic recovery and demand from companies being priced out of central London areas.

The FTSE 250 property group, which owns assets in the UK, Germany, France and Sweden, said pre-tax profits jumped 10.5 per cent to £80.2m in the six months to 30 June, thanks in part to the higher uplift of its property portfolio.

It also gained £3.5m of new income and kept its vacancy rate stable at 3.4 per cent after completing several schemes, including its Spring Mews student development in Vauxhall.