CLS posts lift in net asset value

Kasmira Jefford
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CLS HOLDINGS set the example yesterday on how to profit from the secondary office market, after the property investment company posted strong half-year figures.

The family-run firm said net asset value jumped 5.6 per cent to 1,038p a share in the first half of the year despite a fall in profit to £27.1m from £37.1m.

During the period, the group secured planning permission for Spring Mews in Vauxhall, which it plans to turn into a large mixed-use scheme including a 399 student bedrooms and a 120-room hotel.