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| CLS announces acquisition in Paris CLS Holdings plc announces that its wholly owned subsidiary Citadel Holdings plc has completed the €14.33 million acquisition of Colt Telecom's Data Centre and French HQ at 23/27 Rue Pierre Vallette, in the Southern suburb of Malakoff, Paris. The 10,778 sq m (116,014 sq ft) office and industrial property produces €1.121 million p.a., which equates to €104 per sq m and represents an initial yield of 7.38% to CLS. With the debt finance arranged by Crédit Foncier de France, the initial return on equity is 15.26% p.a. The property is let on an indexed lease until September 2018 with no breaks. Colt Telecom Group SA is a FTSE 250 company specialising in fibre optic networks. This building is one of their major European data centres. Colt Telecom renewed their lease in 2009 and has invested very significantly in the property for their data rooms and network hub wiring. write your comments about the article :: © 2010 Construction News :: home page |