Release date: 1 July 2014
Embargoed until: 07:00
CLS Holdings plc
("CLS", the "Company")
Letting of 6,090 sq m at Bismarckallee 18/20, Freiburg, Germany
CLS is pleased to announce the letting of 6,090 sq m at Bismarckallee 18/20, Freiburg, to local bank Volksbank Freiburg until 30 June 2019 at an annual rent of €971,020, or €162 per sq m. Volksbank will lease the space due to be vacated in 2014 by KPMG and Commerzbank, including the banking hall, resulting in the building remaining fully let.
CLS and Volksbank will partly refurbish and modernise the property over the next 12 months.
Sten Mortstedt, Executive Chairman of CLS, commented:
"When we purchased Bismarckallee 18/20 less than a year ago we saw the remaining weighted average unexpired lease term of around two years as an opportunity to add value. We are delighted now to provide an important local business with an immediate solution, within our overall medium-term strategy to redevelop the property in 2020."
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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 and Acting CEO
John Whiteley, Chief Financial 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
