Taylor Wessing advises CLS Holdings plc on the sale of “The Brix” in Essen

A real estate team at Taylor Wessing, led by Hamburg-based partners Dr Daniel Graske and Dr Alexander Peinze, has provided comprehensive legal advice to long-standing client CLS Holdings plc (“CLS”) on the sale of the office building “The Brix” in Essen. 

CLS is selling the property at Kruppstraße 16 for €60 million; the purchase price corresponds to the valuation as at 31 December 2025. The closing is expected in the second quarter of 2026. 

“The Brix” is situated in Essen’s central business district, around 500 metres from the main railway station, and boasts excellent connections to the regional transport network as well as the Ruhr region’s key transport routes. Following the conclusion of a new 30-year lease with the City of Essen, CLS has extensively refurbished the building, which has been fully occupied since October 2025. 

In April 2021, CLS, advised by Taylor Wessing, acquired the property with a vacancy rate of 28 per cent and subsequently transformed it into a modern, sustainable office building with stable long-term returns. The proceeds from the sale are to be used to reduce debt. 

CLS Holdings plc is a property company listed on the London Stock Exchange that specialises in the acquisition, management and development of office properties in the UK, Germany and France. 

Legal advisers to CLS Holdings plc

Taylor Wessing Germany: Lead Dr Daniel Graske (Salary Partner) and Dr Alexander Peinze (Partner), Galya Stareva (Professional Support Lawyer), all Real Estate, Hamburg; Julian Ludwig (Salary Partner, Tax, Frankfurt)