Submission of Vauxhall Square Planning (9071T)
December 14 2011 - 2:00AM
UK Regulatory
TIDMCLI
RNS Number : 9071T
CLS Holdings PLC
14 December 2011
Release date: 14 December 2011
Embargoed until: 07:00
CLS Holdings plc
("CLS", the "Company" or the "Group")
submits 154,000 sq m (1.65 million sq ft) mixed use development
scheme,
Vauxhall Square, London, to planners
CLS Holdings plc, a pan-European property company headquartered
in Vauxhall, announces that yesterday it submitted a detailed
planning application for a 154,000 sq m (1,657,650 sq ft) mixed-use
development scheme in Vauxhall, London SW8, following a series of
stakeholder consultations.
The proposed Vauxhall Square redevelopment is located close to
Vauxhall's transport interchange and comprises: two residential
towers of approximately 50 stories containing 510 homes and 15,231
sq m (163,945 sq ft) of office space; 3,500 sq m (37,660 sq ft) of
retail, restaurant and cafe space; 416 student units; a 438 bed
hotel; a 4 screen cinema; 94 affordable housing units; a new
homeless hostel; a major new public square (of similar size to
Paternoster Square in the City of London); and public realm
improvements.
Vauxhall Square is at the heart of the Vauxhall Nine Elms
regeneration area between the Vauxhall transport links and the
proposed new US Embassy.
Subject to receiving planning consent, CLS would aim to start on
site in 2014, with phases being completed from 2017 onwards. The
development cost of the proposed scheme is in excess of GBP400
million.
Richard Tice, Chief Executive Officer of CLS Holdings plc,
commented:
"This substantial mixed-use scheme is a key element to the
Vauxhall Nine Elms regeneration plans. It will create a new vibrant
heart for Vauxhall and over 1,000 additional full-time jobs across
a broad range of skills, both during and after construction. The
investment of over GBP400 million will bring substantial benefits
to a wide range of stakeholders and is not dependent on the
Northern Line extension."
-ends-
For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Smithfield Consultants (Financial PR) +44 (0)20 7360 4900
Alex Simmons
This information is provided by RNS
The company news service from the London Stock Exchange
END
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