Lease Renewal
December 10 2007 - 2:00AM
UK Regulatory
Embargoed Release: 0700hrs Monday 10 December 2007
CLS HOLDINGS PLC
(`CLS')
RETAINS CAPGEMINI AT VAUXHALL CROSS
CLS Holdings plc is pleased to announce it has signed new leases with Capgemini
(UK) plc in respect of their current accommodation comprising 10,427 sq m
(112,235 sq ft) of offices at Vauxhall Cross on the Southbank in London.
The property consists of two office buildings providing 6,081 sq m (65,455 sq
ft) fronting Wandsworth Road and Miles Street together with a 4,346 sq m
(46,780 sq ft) warehouse to the rear.
Capgemini has signed new reversionary leases which are effective from March
2009, when the current leases expire, until December 2016.
The rent will increase from March 2009 to �1,886,000 per annum from �1,736,000
per annum. There is an initial six week rent free period.
These buildings form part of a larger development site owned by CLS which is
adjacent to Vauxhall Mainline and Underground station. The leases contain
Landlord break options in December 2014 in order to provide CLS with adequate
flexibility. The terms also provide rolling breaks for the tenant from December
2014 to meet the operational needs of Capgemini.
Executive Chairman of CLS, Sten Mortstedt, commented:
"We are very pleased to have signed these new leases with Capgemini at Vauxhall
Cross. The lease structure accommodates both the needs of our tenant's business
and also retains the significant development potential over the extended site
beyond 2014".
-ends-
For further information, please contact:
CLS Holdings plc
Sten Mortstedt, Executive Chairman
Per Sj�berg, Chief Executive Officer
Tel: +44 (0) 20 7582 7766
www.clsholdings.com
END
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