CLS has exchanged contracts to acquire a portfolio of 12 properties in Germany for c£131m in cash financed from internal resources, later to be part refinanced with bank debt. Gross asset value is c£135m representing an initial yield of 6.3% from a current occupancy rate of 89% (157 tenants). We view this as yet another fabulous acquisition which is positive on 3 levels 1) It is an excellent regeneration of cash from the sale of Vauxhall Square 2) It gives greater geographical bal
