CLS Holdings secures two 'significant' leases in Germany

(Sharecast News) - UK commercial property company CLS Holdings said it had secured two "significant" leases at its assets in Munich and Hamburg.
The City of Hamburg has taken 4,183 square metres of space at Nagelsweg 37-39 on a 15-year lease. The second lease is for 2,225 sqm on a five-year term at Lochhamer Schlag 1 in Gräfelfing, near Munich, with FUTRUE, an international healthcare group comprising 20 companies and with more than 70 drug approvals.

As part of the Hamburg lease, CLS is refurbishing the space to the City's requirements. The building will house several departments of its building authorities with occupation expected in the second quarter of 2022.

FUTRUE intends to move into the property in the fourth quarter of this year.

Chief executive Fredrik Widlund said: "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 (and) also reflect the increasing letting activity we are seeing across Germany."