CLS Holdings plc (LSE:CLI) has agreed the unconditional disposal of The Brix, a 21,797 square metre office property in central Essen, Germany, for €60 million—aligned with its year-end 2025 valuation. The transaction is expected to complete in the second quarter of 2026. Situated بالقرب of Essen’s main railway station, the asset benefits from strong connectivity across the wider Ruhr region.
CLS originally acquired the building in April 2021 when it had a vacancy rate of 28% and subsequently undertook a major repositioning. Following an extensive refurbishment and the securing of a new 30-year lease with the City of Essen, The Brix has been transformed into a modern, sustainable office asset delivering stable long-term income. The proceeds from the sale will be directed toward debt reduction, with management noting that the transaction realises value created, refines the group’s German portfolio focus, and highlights its active asset management approach.
The company’s outlook remains pressured by ongoing profitability challenges and relatively high leverage for an office-focused REIT. Technical indicators are also weak, with the share price trading below key moving averages and showing negative momentum. While a high dividend yield and generally solid cash flow offer some support, they do not fully offset concerns around earnings performance and market trends.
More about CLS Holdings
CLS Holdings plc is a London-based property investment group specialising in office assets across the UK and continental Europe, particularly Germany. The company focuses on acquiring, refurbishing, and repositioning properties to secure long-term leases with public-sector and blue-chip tenants, aiming to deliver устойчивый rental income from high-quality, sustainable office space.
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