(Alliance News) - CLS Holdings PLC on Tuesday said it has secured three significant new leases, amounting to 3,566 square metres, in Germany.
The London-based commercial property investor confirmed two new corporate tenants at its Flexion property, located in Berlin-Mitte on the River Spree.
Hologic Deutschland GmbH, a leading US medical equipment manufacturer, and Tower Productions, a German television producer, have signed a seven and five-year lease respectively. Hologic has signed for 1,016 square metres, while Tower Productions has signed for 1,797.
CLS bought the property in early 2021, with approximately 30% occupancy. The Flexion property is now 80% let.
The third lease was signed by property manager Ecowo, for 753 square metres on a 5-year term at Office Connect in Cologne. The property is now 96% let.
On a combined basis, the leases were completed at 4.9% above estimated rental value.
"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," said Chief Executive Officer Fredrik Widlund.
"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."
CLS shares were trading 1.3% lower at 140.38 pence each in London on Tuesday morning.
By Holly Beveridge; hollybeveridge@alliancenews.com
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CLS Holdings (CLI)