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Sign in Sign up for a FREE subscriptionUPDATED: CLS Holdings sells European asset to Australian developer
CLS has unconditionally exchanged contracts to sell Westminster Tower, Albert Embankment to Australian developer Third.i with expected completion in September 2023.
Having acquired the property in 1987, it is one of the older properties in CLS' portfolio and benefits from planning permission for a residential redevelopment of the existing building, including the construction of three additional floors, with views overlooking the River Thames and Westminster.
CLS has also recently completed on the sale of a smaller office property, St Cloud Gate in Maidenhead, UK and a legacy land holding outside Helsingborg in Sweden with planning permission for logistics.
