LONDON, UK: CLS Holdings has secured two significant leases at its assets in Germany (Munich and Hamburg).
The new tenants have taken 68,975 sq. ft (6,408 sqm) of space across the two buildings, both of which have been let above ERV.
The City of Hamburg has taken 45,025 sq. ft (4,183 sqm) of space at Nagelsweg 37-39 on a 15-year lease. As part of the lease, CLS is undertaking a significant refurbishment to fit the space to the City of Hamburg’s requirements. The building will house several departments of the City of Hamburg’s building authorities with occupation expected in Q2 2022 following the departure of the existing tenant and the completion of the refurbishment.
The second lease is for 23,950 sq. ft (2,225 sqm) for a 5-year lease at Lochhamer Schlag 1 in Gräfelfing, near Munich, with FUTRUE GmbH, an international healthcare group comprising 20 companies and with over 70 drug approvals. The business intends to move into the property in Q4 2021 following the departure of the existing tenant this quarter. The property comprises modern and flexible offices, production and warehouse space. CLS acquired the property in 2006 and repositioned it as a multi-let property.
Fredrik Widlund, Chief Executive Officer of CLS, commented: “Our focus over the past year has been to implement our planned active asset management initiatives to increase occupancy and strengthen income generation across the portfolio. These leases are excellent examples of our ability to work closely with tenants to deliver properties that suit their current and future requirements. These leases also reflect the increasing letting activity we are seeing across Germany. We look forward to working with the City of Hamburg and FUTRUE GmbH during their occupation of these high-quality buildings.”
CLS Holdings plc share price
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29 Sep, 4:47 pm GMT+1 ·Disclaimer
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