Last checked at 16 Dec 2021 07:00
Release date: 16 December 2021
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")
CLS leases 91,865 sq. ft (8,535 sqm) across five new leases in Germany
CLS announces that it has secured five significant leases in the last three weeks across Germany, amounting to 91,865 sq. ft (8,535 sqm), in Cologne, Essen, Berlin and Munich.
The Federal State of North Rhein-Westphalia has agreed a ten-year lease for 35,908 sq. ft (3.336 sqm) of space 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 square meters of lettable space spread over eleven floors.
The second lease is for 28,062 sq. ft (2,607 sqm) on a ten-year term with an educational institution at The Brix, Kruppstraße 16, Essen. The Brix was acquired by CLS on 1 April 2021 with 28% vacancy and, following the above letting and others, it is now over 90% let.
The third lease is for 14,176 sq. ft (1,317 sqm) with Humboldt University for a 7-year lease at Adlershofer Tor, Rudower Chaussee 12, Berlin. Humboldt University Berlin is a public research university and one of Germany's most prestigious higher education institutions. Founded in 1809, it's past and present faculty and alumni include 57 Nobel Prize laureates.
The final two leases are for 13,719 sq. ft (1,275 sqm) in Flexion, Kaiserin-Augusta-Allee 112-113, Berlin and Ideenwerk, Unterhachinger Straße 75, Munich.
On a combined basis, these five leases were completed at 2% above ERV.
Fredrik Widlund, Chief Executive Officer of CLS, commented:
"These lettings further confirm that the demand for high quality office space is bouncing back strongly and significantly reduce our vacancies 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 achievements 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 and students."
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For further information, please contact:
CLS Holdings plc
(LEI: 213800A357TKB2TD9U78)
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
Elm Square Advisers Limited
Jonathan Gray
+44 (0)20 7823 3695
Smithfield Consultants (Financial PR)Alex Simmons
Rob Yates
+44 (0)20 3047 2546