Letting Agreement
May 09 2006 - 3:00AM
UK Regulatory
Release date: 9th May 2006
Embargoed until: 07:00
CLS HOLDINGS PLC ("CLS") ANNOUNCES A SIGNIFICANT LETTING AT CHANCEL HOUSE,
LONDON
CLS is pleased to announce that it has agreed terms with Brent Housing
Partnership ("BHP") for them to lease approximately 2,390 sq m (25,731 sq ft)
of offices. BHP will join Land Securities Trillium at Chancel House, London
NW10, which is now fully let.
CLS is refurbishing the offices and upon completion in July 2006, BHP will take
a lease for a term of 10 years at a rent of �311,345 per annum (�130 per sq m /
�12.10 per sq ft) with 9 months rent free. The lease includes a tenant's break
option at the 6th year and is guaranteed by Brent Council.
CLS is also carrying out fitting out works on behalf of BHP, the cost of which
will be offset against the 9 month rent free period with the balance amortised
over the term of the lease.
Hargreaves Newberry Gyngell and Nelson Bakewell represented CLS, whilst Dutch
and Dutch acted for BHP.
Executive Chairman for CLS, Sten Mortstedt, commented:
"We are very pleased that the Brent Housing Partnership has chosen Chancel
House for their new offices. Having recently invested in new air conditioning,
lifts and reception area, we are delighted to have let all the remaining vacant
space to such a well established tenant. The letting also extends our
relationship with Brent Council who occupy 6,340 sq m (68,248 sq ft) of office
space at our Brent House property in Wembley."
-ends-
For further information, please contact:
Sten Mortstedt, Executive Chairman
Per Sj�berg, Chief Executive Officer
Kevin Chapman, UK Property Director
CLS Holdings plc
www.clsholdings.com
Tel. +44 (0)20 7582 7766
Adam Reynolds/Ben Simons
Hansard Communications
Tel. +44 (0)20 7245 1100
END
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