Submission of Spring Mews Planning (1909U)

TIDMCLI

RNS Number : 1909U

CLS Holdings PLC

19 December 2011

   Release date:                     19 December 2011 
   Embargoed until:                07:00

CLS Holdings plc

("CLS", the "Company" or the "Group")

submits 20,801 sq m (223,900 sq ft) mixed-use development scheme,

Spring Mews, Vauxhall, London, to planners

CLS Holdings plc, a pan-European property company headquartered in Vauxhall, announces that on Friday, 16 December 2011 it submitted a detailed planning application for a 20,801 sq m (223,900 sq ft) student accommodation and hotel led development scheme in Vauxhall, London SE11. Spring Mews represented the second mixed-use development scheme CLS submitted for planning last week.

The proposed Spring Mews development, located close to the Albert Embankment, and the Vauxhall transport interchange, comprises: 402 student rooms and amenity space; a 120 bed mid-market hotel; a new 561 sq m (6,000 sq ft) community centre and cafe; 469 sq m (5,050 sq ft) of office space; 245 sq m (2,640 sq ft) convenience retail unit; and the creation of a new pedestrian mews linking the development to Spring Gardens.

Subject to receiving planning consent, CLS would aim to start on site in 2012, with completion in 2014. The total development cost of the proposed scheme is in excess of GBP50 million.

Richard Tice, Chief Executive Officer of CLS Holdings plc, commented:

"Spring Mews is a vibrant, mixed-use scheme which will enhance the Spring Gardens area in Vauxhall. It will create over 100 new jobs and include a new community hub, and will satisfy the increasing demand for managed student living and affordable hotel rooms in a safe and attractive environment."

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

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