Business
CLS Secures Three New Leases in Germany
CLS Secures Three New Leases in Germany.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n Release date: 8 November 2022 \n \n \n Embargoed until: 07:00 am \n \n \n \n \n \n \n \n \n \n \n \n CLS Holdings plc (\"CLS\" or the \"Group\")\n \n \n \n \n CLS leases over 3,500 sqm, ahead of ERV, across three new leases in Germany\n \n \n \n \n \n \n CLS announces that it has secured three significant new leases, amounting to 3,566 sqm (38,384 sq. ft), in Berlin and Cologne, Germany.\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n On a combined basis, these three leases, were completed at 4.9% above ERV.\n \n \n \n \n \n Fredrik Widlund, Chief Executive Officer of CLS, commented:\n \n \n \n \n \n \n \"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.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...