Business
Letting of 6,090 sqm at Bismarckallee 18/20
Letting of 6,090 sqm at Bismarckallee 18/20.
About this update from Cls Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9971K CLS Holdings PLC 01 July 2014 \n \n\n \nRelease date: 1 July 2014\nEmbargoed until: 07:00\n \n \nCLS Holdings plc\n(\"CLS\", the \"Company\")\n \nLetting of 6,090 sq m at Bismarckallee 18/20, Freiburg, Germany\n \nCLS 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.\n \nCLS and Volksbank will partly refurbish and modernise the property over the next 12 months.\n \nSten Mortstedt, Executive Chairman of CLS, commented: \n \n\"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.\"\n \n-ends-\n \nFor further information, please contact:\n \nCLS Holdings plc +44 (0)20 7582 7766\nwww.clsholdings.com \nSten Mortstedt, Executive Chairman\nHenry Klotz, Executive Vice Chairman and Acting CEO\nJohn Whiteley, Chief Financial Officer\n \nLiberum Capital Limited +44 (0)20 3100 2222\nTom Fyson\n \nCharles Stanley Securities &...