A sign of the times

I learn from HSBC this morning that CLS Holdings has announced the sale of a portfolio of 19 regional offices in the UK for an aggregate cash consideration of £65m to Elite Capital Partners.

The former is listed in London and while one does not know who is on the share register, the impression given is that of a European operation. And while it is not clear if the latter is listed anywhere, it is certainly a Singapore operation, arty picture of mountains notwithstanding. So the impression given to me is that another chunk of Great British real estate has been sold off to thrifty investors in the far east to help with our dreadful balance of payments. What used to be called living on tick. Otherwise, selling off the future to pay for the present.

Incidentally, the Singapore operation is proud of the fact that a lot of its UK buildings are rented out to what is left of Great British government, still considered a blue-chip tenant.

Reference 1: https://www.clsholdings.com/.

Reference 2: https://www.elitepartnerscapital.com/.