15 July 2008
15 July 2008 - Leading international law firm Mayer Brown has advised CLS Holdings plc on the group's disposal of its landmark properties at One Leicester Square and Coventry House, Haymarket to Criterion Capital.
Criterion Capital, the UK asset management company of the Aziz Family Trust, bought the properties for a combined £57.2 million.
CLS Holdings plc is a property investment company which has been listed on the London Stock Exchange since 1994. The company has a property portfolio in London, France, Sweden and Germany valued at £1,175.3m (December 2007).
One Leicester Square, part of which is occupied by the nightclub Sound, is a nine storey leisure and retail building occupying a prominent position on the north side of the square. It comprises 37,920 sq ft (3,523 sq m) and is let to Nickelodeon Huggins, Planright Limited, Sound Too Limited, Crest Trading and Empire Cinema.
Coventry House, Haymarket, overlooks Piccadilly Circus and provides 18 apartments (14 of which have been sold on long leases) above a restaurant.Gary Watson, senior real estate partner at Mayer Brown said:
"This transaction demonstrates that there is still a strong demand for outstanding properties."
Senior real estate partner Gary Watson led the Mayer Brown team working on the deal.
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