CLS Holdings Regulatory News (CLI)

9 May 2006 07:00

Release date: 9th May 2006Embargoed until: 07:00 CLS HOLDINGS PLC ("CLS") ANNOUNCES A SIGNIFICANT LETTING AT CHANCEL HOUSE, LONDON CLS is pleased to announce that it has agreed terms with Brent HousingPartnership ("BHP") for them to lease approximately 2,390 sq m (25,731 sq ft)of offices. BHP will join Land Securities Trillium at Chancel House, LondonNW10, which is now fully let.CLS is refurbishing the offices and upon completion in July 2006, BHP will takea lease for a term of 10 years at a rent of ‚£311,345 per annum (‚£130 per sq m /‚£12.10 per sq ft) with 9 months rent free. The lease includes a tenant's breakoption at the 6th year and is guaranteed by Brent Council.CLS is also carrying out fitting out works on behalf of BHP, the cost of whichwill be offset against the 9 month rent free period with the balance amortisedover the term of the lease.Hargreaves Newberry Gyngell and Nelson Bakewell represented CLS, whilst Dutchand Dutch acted for BHP.Executive Chairman for CLS, Sten Mortstedt, commented:"We are very pleased that the Brent Housing Partnership has chosen ChancelHouse for their new offices. Having recently invested in new air conditioning,lifts and reception area, we are delighted to have let all the remaining vacantspace to such a well established tenant. The letting also extends ourrelationship with Brent Council who occupy 6,340 sq m (68,248 sq ft) of officespace at our Brent House property in Wembley." -ends- For further information, please contact:Sten Mortstedt, Executive ChairmanPer Sjƒ¶berg, Chief Executive OfficerKevin Chapman, UK Property DirectorCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766Adam Reynolds/Ben SimonsHansard CommunicationsTel. +44 (0)20 7245 1100ENDCLS HOLDINGS PLC