CLS secures new leases at The Coade, Vauxhall

(Sharecast News) - Commercial property investor CLS said on Thursday that it has secured over 8,000 square feet of new leases at its newly developed office building in the heart of Vauxhall, The Coade. CLS said The Coade continues to attract "a diverse mix of occupiers", with three new leases agreed.

In May, National Skills Academy for Rail, a rail consulting company, signed a five-year lease for 1,862 square feet on the first floor. Since July, accountancy and professional advice firm Wellers signed a 10-year lease for 3,090 square feet on the third floor, and CLS also agreed heads of terms with an unnamed business-to-business media company for a five-year lease for 3,088 square feet on the second floor.

CLS noted that the leases were signed at an average of £48 per square foot, in line with the latest estimated rental values.

Chief executive Fredrik Widlund said: "We are very excited to welcome the new tenants to The Coade. Their arrival highlights both the quality of our development and the continued appeal of Vauxhall as a business destination. The Coade is a stunning addition to Vauxhall, attracting a diverse and growing mix of tenants who are drawn to its design, sustainability credentials, and central location."

As of 0920 BST, CLS shares were up 0.31% at 65p.



Reporting by Iain Gilbert at Sharecast.com