LONDON: CLS Holdings plc (CLS.L) said on Tuesday it has signed an eight-year, index-linked lease for 14,700 square metres of office space at its Gotic Haus property in Dortmund, Germany, with a government department.
The lease for the space, equivalent to 158,230 square feet and including 290 parking spaces, is scheduled to commence on September 1, 2026, following a refurbishment programme, the UK-based property investor said in a statement.
The letting means the architecturally striking office complex, which lost its former anchor tenant in June, is now over 80% occupied. CLS said it is in ongoing discussions to lease the remaining approximately 20% of the building.
With this new agreement, the total annual rental income for Gotic Haus is set to rise to over €4.0 million. The rent is linked to the German Consumer Price Index (CPI).
“The letting reflects what drives success in the German office market: active asset management, close partnerships with occupiers, and the ability to configure space to tenant’s precise operational needs,” said Rolf Mensing, Head of Germany at CLS.
CLS acquired the roughly 22,300 square metre Gotic Haus in 2017. The multi-let complex, located on a main thoroughfare in Dortmund, holds a ‘Very Good’ rating under the BREEAM In-Use sustainability certification. The company stated that the changing lease profile and planned improvements are expected to increase the property’s value between now and the practical completion of the works.