Business
Lease Renewals
Lease Renewals.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nEmbargoed release: 07:00hrs 28 July 2009\n\n CLS HOLDINGS PLC (\"CLS\") \n\n ANNOUNCES FURTHER LEASE RENEWALS AT CI TOWER, NEW MALDEN \n\nThe Board of CLS is pleased to announce the following in relation to CI Tower:\n\n1. A lease renewal has been completed with London Grid for Learning Trust on\nthe part 4th floor (245 sq m / 2,640 sq ft) for a term of five years with a\ntenant break option at the end of the 3rd year. The rent is £53,640 p.a. (£219\npsm / £20.32 psf) subject to one month rent free.\n\n2. A lease renewal has been completed with Korea LNG Limited on the part 3rd\nfloor (125 sq m / 1,350 sq ft) for a term of five years with a tenant break\noption at the end of the 3rd year. The rent is £29,700 p.a. (£ 238 psm / £22\npsf) with no rent free.\n\n3. The June 2008 rent review has been settled with LaFarge Cement UK plc on the\npart ground floor (131 sq m / 1,405 sq ft) at £28,802 p.a. (£ 220 psm / £20.50\npsf), an increase of 15%.\n\nCI Tower, which comprises 7,504 sq m (80,773 sq ft), is fully let apart from\none small suite on the 4th floor extending to 95 sq m (1,025 sq ft), available\nthrough our letting agents Cattaneo Commercial at £242 psm / £22.50 psf.\n\nExecutive Chairman of CLS, Sten Mortstedt, commented:\n\n\"We are very pleased that we have been able to successfully renew these leases\nand achieve a good settlement on the rent review. They demonstrate the need to\nprovide quality accommodation in good locations.\"\n\n -ends- \n\nFor further information, please contact:\n\nSten Mortstedt, Executive Chairman\n\nHenry Klotz, Chief Executive Officer\n\nCLS Holdings plc\n\nTel. +44 (0)20 7582 7766\n\nwww.clsholdings.com\n\n\n \n ","length":2038,"tagName":"div"}]