REG - CLS Holdings PLC - CLS Secures Three New Leases in Germany

CLS HoldingsAnnouncement

08/11/2022 07:01

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RNS Number : 5834F  CLS Holdings PLC  08 November 2022

 

 

Release date:                8 November 2022

Embargoed until:           07:00 am

 

 

CLS Holdings plc ("CLS" or the "Group")

CLS leases over 3,500 sqm, ahead of ERV, across three new leases in Germany

 

CLS announces that it has secured three significant new leases, amounting to
3,566 sqm (38,384 sq. ft), in Berlin and Cologne, Germany.

 

At "Flexion", Kaiserin-Augusta-Allee 112-113, located in Berlin-Mitte on the
river Spree, CLS has secured two new major corporate tenants. Hologic
Deutschland GmbH, a leading US medical equipment manufacturer, has signed a
seven-year lease for 1,016 sqm (10,936 sq. ft) and Tower Productions, a German
television producer, has signed a five-year lease for 1,797 sqm (19,343 sq.
ft) of space.

 

CLS purchased the 8,712 sqm (93,775 sq. ft) property in Berlin-Mitte in early
2021 with approximately 30% occupancy. Now, after successfully repositioning
it in the market, Flexion is approximately 80% let.

 

The third lease is for 753 sqm (8,105 sq. ft) on a five-year term with
property manager Ecowo at Office Connect,
Wilhelm-Jacob-von-der-Wettern-Strasse 27, Cologne. The multi-let property is
located in the Cologne Airport Business Park and has a total of 13,000 sqm
(139,931 sq. ft) of lettable space spread over eleven floors. The property is
now 96% let.

 

On a combined basis, these three leases, were completed at 4.9% above ERV.

 

Fredrik Widlund, Chief Executive Officer of CLS, commented:

 

"These lettings further confirm that the demand for high quality office space
remains strong in Germany. These properties offer well-located and flexible
office space close to public transport and within easy reach of their
respective city centres. These leases also highlight the significant benefits
of having a dedicated in-house asset management team with local expertise. We
look forward to working together with the new tenants to create a sustainable
and attractive space for their employees."

 

-ends-

 

 
 
 

 

For further information, please contact:

 

 

CLS Holdings plc

(LEI: 213800A357TKB2TD9U78)

www.clsholdings.com (http://www.clsholdings.com)

Fredrik Widlund, Chief Executive Officer

Andrew Kirkman, Chief Financial Officer

+44 (0)20 7582 7766

 

Liberum Capital Limited

Richard Crawley

Jamie Richards

+44 (0)20 3100 2222

 

Panmure Gordon

Hugh Rich

+44 (0)20 7886 2733

 

Berenberg

Matthew Armitt

Richard Bootle

+44 (0)20 3207 7800

Edelman Smithfield (Financial PR)

Alex Simmons

Hastings Tarrant

+44 (0)20 3047 2546
 
 

 

       Registered in England No. 2714781. Registered Office as above.
 
 
 

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