CLS Holdings PLC - London-based commercial property investment company - Announces plans for its Citadel Place site in Vauxhall, London. Say the property is "one of the largest in the CLS portfolio and represents an exciting opportunity to further regenerate the area and create a vibrant community hub while also providing long-term shareholder returns." Says that with expected vacancy in 2026, it aims to bring a well-considered and harmonised mixed-use development to the area. The plans include building 180 to 200 new homes.
Chief Executive Fredrik Widlund says: "Citadel Place represents our commitment to sustainable urban development. We envisage a place where people can live and thrive; supporting the community within Vauxhall. CLS has operated and invested in the Vauxhall area for over 35 years and continues to work closely with the London Borough of Lambeth, residents and the local business community and we are excited to now start on the next phase of development."
Current stock price: 93.00 pence per share, down 0.4% on Monday
12-month change: down 26%
By Sophie Rose, Alliance News senior reporter
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CLS Holdings (CLI)