CLS Holdings has secured a £50m revolving credit facility (RCF) from digital bank OakNorth to support refinancing and future growth in the sustainable office and commercial property sector.
CLS sold Spring Mews to Barings for £100m in 2025 as part of efforts to reshape its portfolio
The firm, which is listed on the London Stock Exchange, has a portfolio of around £1.7bn spanning offices and other commercial assets in the UK, Germany and France.
The facility from OakNorth will be used to refinance existing debt and provide finance to support its asset management initiatives and future growth plans.
CLS said this includes continued investment in refurbishment programmes, leasing activity, and the repositioning of assets, particularly in relation to sustainability and workplace quality.
Harry Stokes, chief financial officer of CLS Holdings, said the transaction would offer the firm “additional flexibility as we continue to optimise our portfolio across key European markets”.
He added: “OakNorth demonstrated a deep understanding of our business and the complexities involved in structuring revolving credit facilities of this nature, delivering a solution quickly and with complete transparency.
“This support will enable us to continue investing in high-quality, sustainable office space, while maintaining a disciplined approach to capital allocation and balance-sheet management.”
Mohith Sondhi, managing director of debt finance at OakNorth, added: “CLS Holdings is a long-established, institutional platform with a strong track record of owning and actively managing office assets across major European cities.
“We continue to see strong and growing demand for high-quality, sustainable workspace, driven by occupier expectations, corporate net-zero commitments and evolving regulatory requirements.”
In August 2025, CLS posted a £24.4m loss, but reported significant progress in reshaping its portfolio through disposals, including the £100m sale of the Spring Mews Student accommodation asset in Vauxhall, London, and refinancing efforts.
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