CLS Holdings Regulatory News (CLI)

7 Feb 2005 08:53

Release date: 7th February 2005 - For Immediate Release CLS HOLDINGS PLC ("CLS") MAJOR PRE-LETTING AGREEMENT AT LONDON BRIDGE TOWER CLS Holdings plc is delighted to announce the first pre-let for London BridgeTower, which will be Europe's tallest building, and in which it owns aone-third interest.A pre-letting agreement has been signed with Shangri-La Hotels and Resorts,Asia's leading luxury hotel group, for close to 18,500 sq m (200,000 sq ft) ofspace over 18 floors in the 70-storey mixed use development located at LondonBridge station. The lease will be for a term of 30 years from completion of thebuilding with no breaks at an attractive commercial rent.The hotel element of London Bridge Tower will be located on floors 34 to 52,providing guests with stunning panoramic views of London. The agreement marksShangri-La's first hotel in Europe and concludes an intensive decade longsearch for the right location in London.Sten Mortstedt, Executive Chairman of CLS, commented:"This pre-letting agreement represents a major step forward in adding to thecapital value of the project and in securing a significant source of futureincome. Furthermore, having one of the world's finest hotels as a tenant inLondon Bridge Tower will constitute a major attraction for companies wishing tolease the office space in this iconic landmark building.As we all know, the strongest future growth in the world economy belongs toAsia and therefore I am extremely pleased that Shangri-La has chosen LondonBridge Tower to give London its first taste of an Asian top class environmentfor the people living in and visiting London. I also believe Shangri-La willattract office tenants from Asia who wish to establish themselves in Europe andfrom global occupiers who wish to be located in a top quality building inEurope." -ends- For further information please contact:Sten Mortstedt, Executive ChairmanTom Thomson, Chief Executive & Vice ChairmanCLS Holdings plcwww.clsholdings.com Tel. +44 (0)20 7582 7766Adam Reynolds / Ben SimonsHansard Communicationswww.hansardcommunications.com Tel. +44 (0)20 7245 1100Information on London Bridge TowerDevelopment of the site, which sits above London Bridge station and is a keytransport interchange providing extensive underground, rail, bus and taxitransport links, is expected to get underway in early 2006 with completion in2009/10.In addition to the hotel, the 83,500 sq m (900,000 sq ft) London Bridge Towerwill also provide approximately 55,600 sq m (600,000 sq ft) of Class A officesover 24 floors, retailing on the lower levels, a four-floor mid level leisureand viewing gallery providing, cafes and bars as well as purpose designedvisitor gallery. There is a further public viewing gallery at the very top ofthe building on levels 68 to 70, with the remainder of the accommodation onfloors 53 to 66 comprising London's most spectacular apartments.Information on Shangri-La Hotel, London Bridge TowerIt is anticipated that the Shangri-La Hotel, London Bridge Tower will comprise170 large deluxe guestrooms averaging approximately 40 sq m (431 sq ft) andwill introduce new standards of "suite-style" accommodation to London. 25suites will include two speciality suites and a presidential suite while thethree corner suites on each floor will feature 12 sq m (130 sq ft) glassenclosed balconies. There will be a "signature" restaurant, lobby lounge andbar, and "food theatre" cafĩ, featuring a choice of multiple choice cookingstations, offering outstanding international cuisine.The hotel will have a stunning high level reception accessed, at street level,from a dedicated entrance on St Thomas Street approached via a carriagedriveway.The hotel will be home to Europe's first CHI spa, Shangri-La's signature brand.CHI combines Chinese and Himalayan healing therapies, the latter inspired bythe mysticism of the Shangri-La legend, captured in James Hilton's famous "LostHorizon" novel. CHI private spa suites will be designed as the most spacious inthe city, offering a "spa with a spa" experience.Fitness and recreational facilities will include an indoor "infinity" pool,affording spectacular views of the Thames and the London skyline and fullyequipped fitness centre, both with panoramic views of the Capital, as well aswhirlpool, steam and sauna rooms.Shangri-La has long been regarded as Asia's leading luxury hotel group andcurrently owns and manages 46 hotels under the Shangri-La and Traders Hotelsbrands throughout Asia Pacific including Australia, mainland China, Fiji, HongKong, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and theUnited Arab Emirates. Its current room inventory stands at more than 21,000with a further 30 hotels presently under development.END