Release date: 16 January 2013
Embargoed until: 07:00 am
CLS Holdings plc
("CLS", the "Company" or the "Group")
Planning Application approved for prime mid-town office and residential
Clifford's Inn, Fetter Lane, EC4
CLS Holdings plc announces that planning approval has been granted on plans to comprehensively refurbish the existing office space at its prime mid-town property, Clifford's Inn, Fetter Lane, EC4 over lower ground, ground, first and second floors, and to undertake a complementary infill extension. This will provide new, high-specification, Category 'A', air-conditioned office accommodation, with a gross internal area totalling 3,423 sq m, behind a new, high-quality Portland stone façade.
In addition, the scheme includes the provision of eight new residential apartments within the front portion of the first and second floors of the existing office space, providing a total of 500 sq m of residential accommodation. The eight new apartments will consist of one and two-bedroom dwellings on each floor.
The refurbishment is scheduled to start in the second quarter of 2013, with completion 12 months later, at a cost of £9.1 million.
Executive Chairman of CLS, Sten Mortstedt, commented:
"We are very pleased to have secured planning approval in this prime location to substantially enhance the Group's property into high quality offices and residential apartments, and look forward to starting the refurbishment shortly. This project will create hundreds of construction jobs over the next 15 months."
-ends-
For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
