Re. Major Pre-Letting Agreement
February 07 2005 - 3:53AM
PR Newswire (US)
Re. Major Pre-Letting Agreement Release date: 7th February 2005 -
For Immediate Release CLS HOLDINGS PLC ("CLS") MAJOR PRE-LETTING
AGREEMENT AT LONDON BRIDGE TOWER CLS Holdings plc is delighted to
announce the first pre-let for London Bridge Tower, which will be
Europe's tallest building, and in which it owns a one-third
interest. A pre-letting agreement has been signed with Shangri-La
Hotels and Resorts, Asia's leading luxury hotel group, for close to
18,500 sq m (200,000 sq ft) of space over 18 floors in the
70-storey mixed use development located at London Bridge station.
The lease will be for a term of 30 years from completion of the
building with no breaks at an attractive commercial rent. The hotel
element of London Bridge Tower will be located on floors 34 to 52,
providing guests with stunning panoramic views of London. The
agreement marks Shangri-La's first hotel in Europe and concludes an
intensive decade long search for the right location in London. Sten
Mortstedt, Executive Chairman of CLS, commented: "This pre-letting
agreement represents a major step forward in adding to the capital
value of the project and in securing a significant source of future
income. Furthermore, having one of the world's finest hotels as a
tenant in London Bridge Tower will constitute a major attraction
for companies wishing to lease the office space in this iconic
landmark building. As we all know, the strongest future growth in
the world economy belongs to Asia and therefore I am extremely
pleased that Shangri-La has chosen London Bridge Tower to give
London its first taste of an Asian top class environment for the
people living in and visiting London. I also believe Shangri-La
will attract office tenants from Asia who wish to establish
themselves in Europe and from global occupiers who wish to be
located in a top quality building in Europe." -ends- For further
information please contact: Sten Mortstedt, Executive Chairman Tom
Thomson, Chief Executive & Vice Chairman CLS Holdings plc
www.clsholdings.com Tel. +44 (0)20 7582 7766 Adam Reynolds / Ben
Simons Hansard Communications www.hansardcommunications.com Tel.
+44 (0)20 7245 1100 Information on London Bridge Tower Development
of the site, which sits above London Bridge station and is a key
transport interchange providing extensive underground, rail, bus
and taxi transport links, is expected to get underway in early 2006
with completion in 2009/10. In addition to the hotel, the 83,500 sq
m (900,000 sq ft) London Bridge Tower will also provide
approximately 55,600 sq m (600,000 sq ft) of Class A offices over
24 floors, retailing on the lower levels, a four-floor mid level
leisure and viewing gallery providing, cafes and bars as well as
purpose designed visitor gallery. There is a further public viewing
gallery at the very top of the building on levels 68 to 70, with
the remainder of the accommodation on floors 53 to 66 comprising
London's most spectacular apartments. Information on Shangri-La
Hotel, London Bridge Tower It is anticipated that the Shangri-La
Hotel, London Bridge Tower will comprise 170 large deluxe
guestrooms averaging approximately 40 sq m (431 sq ft) and will
introduce new standards of "suite-style" accommodation to London.
25 suites will include two speciality suites and a presidential
suite while the three corner suites on each floor will feature 12
sq m (130 sq ft) glass enclosed balconies. There will be a
"signature" restaurant, lobby lounge and bar, and "food theatre"
caf�, featuring a choice of multiple choice cooking stations,
offering outstanding international cuisine. The hotel will have a
stunning high level reception accessed, at street level, from a
dedicated entrance on St Thomas Street approached via a carriage
driveway. The hotel will be home to Europe's first CHI spa,
Shangri-La's signature brand. CHI combines Chinese and Himalayan
healing therapies, the latter inspired by the mysticism of the
Shangri-La legend, captured in James Hilton's famous "Lost Horizon"
novel. CHI private spa suites will be designed as the most spacious
in the city, offering a "spa with a spa" experience. Fitness and
recreational facilities will include an indoor "infinity" pool,
affording spectacular views of the Thames and the London skyline
and fully equipped fitness centre, both with panoramic views of the
Capital, as well as whirlpool, steam and sauna rooms. Shangri-La
has long been regarded as Asia's leading luxury hotel group and
currently owns and manages 46 hotels under the Shangri-La and
Traders Hotels brands throughout Asia Pacific including Australia,
mainland China, Fiji, Hong Kong, Indonesia, Malaysia, Myanmar,
Philippines, Singapore, Thailand and the United Arab Emirates. Its
current room inventory stands at more than 21,000 with a further 30
hotels presently under development. END
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