CLS Holdings
CLS Holdings is a British commercial property investment company focused primarily on office real estate in the United Kingdom, Germany and France.
Last updated August 31, 2026
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Overview
CLS Holdings plc is a British commercial property investment business headquartered in London. The company invests in, owns and manages commercial real estate, with a particular emphasis on office buildings in the United Kingdom, Germany and France. Its business model is based primarily on generating rental income and managing a geographically diversified portfolio of income-producing properties rather than selling consumer products under a conventional product-brand structure. The company was established in 1987 by Sten Mörtstedt under the name Central London Securities. It subsequently developed into a listed property investment group and was admitted to the London Stock Exchange in 1994. Its portfolio and corporate activities have historically been associated with office accommodation and other commercial premises, giving the business exposure to occupier demand, rental markets, interest rates, property valuations and the broader financial performance of its operating regions. A notable moment in the company’s development came in 2006, when CLS Holdings became one of the original three investors in the development of The Shard at London Bridge in London. The company later sold its interest in January 2008. The transaction illustrates that CLS has not been limited to holding a static portfolio, but has also participated selectively in major property development opportunities before recycling capital into its wider investment strategy. Leadership changes have also marked the company’s modern history. Richard Tice became chief executive officer in 2010. Fredrik Widlund, formerly associated with GE Capital, replaced Tice as chief executive in November 2014. Sten Mörtstedt remained an important figure in the company’s history as an executive director until his death in December 2020 at the age of 80. CLS historically returned capital to shareholders through a tender-offer share buy-back mechanism. In February 2017, the company announced a change in its distribution approach, introducing a dividend and proposing a subdivision of its shares. This represented a shift in the way the company communicated and delivered shareholder returns, while retaining its identity as a listed property investment business. The company’s principal offering is its commercial property portfolio rather than a range of branded goods. Its assets are concentrated in office space across its three stated European markets. The portfolio’s value was reported at approximately £1.6 billion as of 31 December 2025. CLS therefore occupies a specialist position within the real-estate sector: it is a listed, geographically diversified office-property owner and manager with a long operating history, rather than a broad consumer-facing real-estate services brand.
History
CLS Holdings traces its origins to 1987, when Sten Mörtstedt established the business under the name Central London Securities. The company was created as a property investment enterprise and developed its identity around commercial real estate, particularly office accommodation. Its subsequent expansion gave it exposure to multiple European property markets and helped establish it as a listed real-estate investment group rather than a single-building or purely local landlord. The company first became publicly listed on the London Stock Exchange in 1994. Listing provided access to public equity markets and placed the business within the listed property sector, where performance is influenced by rental income, occupancy, asset values, financing conditions and investor distributions. Over time, CLS Holdings built a portfolio spanning the United Kingdom, Germany and France, with offices forming the core of its operations. In 2006, CLS Holdings became one of the original three investors in The Shard development at London Bridge. The project was one of the most prominent commercial property developments in London. CLS later sold its stake in January 2008, demonstrating a willingness to realize value from a major development investment rather than retain every strategic property interest indefinitely. Leadership changed in the following decade. Richard Tice was appointed chief executive officer in 2010. In November 2014, Fredrik Widlund replaced Tice as chief executive; Widlund had previously worked at GE Capital. The company’s historic founder and executive director, Sten Mörtstedt, remained a significant figure in its corporate history until his death in December 2020. CLS also changed its shareholder-return policy. Historically, the company used a tender-offer buy-back to make distributions to shareholders. In February 2017, it announced the introduction of a dividend together with a proposed subdivision of its shares. The move altered the form of recurring shareholder distributions and represented a notable capital-markets decision in the company’s history. The company remains an active commercial property investment business. Its portfolio is centered on office space in the United Kingdom, Germany and France. The portfolio was valued at approximately £1.6 billion as at 31 December 2025, according to the supplied reference material. CLS Holdings’ continuing proposition is therefore based on ownership and management of income-producing commercial property, geographic diversification and listed-company access to capital, rather than on consumer products or conventional advertising-led brand activity.
- 2025
Commercial property portfolio valuation
[1]The company’s property portfolio is reported as valued at approximately £1.6 billion as of 31 December 2025.
- 2020
Death of Sten Mörtstedt
[1]Founder and former executive director Sten Mörtstedt dies in December at the age of 80.
- 2017
Dividend introduced
[1]The company announces a dividend and a proposed share subdivision, changing its historic shareholder-distribution model.
- 2014
Fredrik Widlund becomes chief executive
[1]Fredrik Widlund replaces Richard Tice as chief executive in November.
- 2010
Richard Tice becomes chief executive
[1]Richard Tice is appointed chief executive officer.
- 2008
Exit from The Shard investment
[1]CLS Holdings sells its interest in The Shard in January.
- 2006
Investment in The Shard
[1]CLS Holdings becomes one of the original three investors in The Shard development at London Bridge.
- 1994
London Stock Exchange listing
[1]The company becomes listed on the London Stock Exchange.
- 1987
Central London Securities is established
[1]Sten Mörtstedt establishes the business under the name Central London Securities.
Products and positioning
A listed European commercial property investment group focused on office real estate, rental income and long-term portfolio management.
Commercial real estate
Office property portfolio
CLS Holdings’ principal business offering is a portfolio of office buildings and related commercial premises. The portfolio is designed to generate rental income from business occupiers and is spread across the United Kingdom, Germany and France. Portfolio performance depends on occupancy, lease terms, tenant demand, property values and operating costs.
Property investment services · 1987
Commercial property investment and management
The company invests in and manages income-producing commercial real estate. Its activities include holding property assets, overseeing their operation and making portfolio decisions intended to support long-term value and shareholder returns. This is a corporate real-estate proposition rather than a consumer-facing service line.
Brand decisions
2017
Move from tender-offer buy-backs to dividendsStrategyBackground
CLS Holdings had historically made shareholder distributions through a tender-offer buy-back.
Action taken
In February 2017, the company announced the introduction of a dividend and a proposed subdivision of its shares.
Aftermath
The announcement marked a change in the company’s shareholder-distribution approach. No further outcome is specified in the supplied material.
2008
Sale of The Shard interestOtherBackground
CLS Holdings had been one of the original three investors in The Shard development at London Bridge since 2006.
Action taken
The company sold its interest in January 2008.
Aftermath
The disposal ended CLS Holdings’ participation in that development. The supplied material does not state the transaction proceeds or subsequent use of capital.
Recent events
- Unconfirmed
Reported
CLS Holdings completes sale of Quayside Lodge[2]
CLS Holdings completed the sale of Quayside Lodge in Fulham, London, for £19.0 million to a private developer.
Reported
CLS Holdings agrees to acquire One Six Six[3]
CLS Holdings announced that it had unconditionally exchanged contracts to acquire One Six Six, an office property in Harrow, for £13.8 million excluding costs. Completion was expected in January 2020.
Reported
CLS Holdings announces acquisition of two London office buildings[4]
CLS Holdings announced that it had unconditionally exchanged contracts to acquire 6 Lloyds Avenue and the Clockwork Building in London for £66.65 million excluding costs. Completion was expected within four weeks.
Sources4 sources
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