- CLS Holdings
- 06 February 2025 09:12:11
Source: Sharecast
CLS said the agreement, reached with its current occupier, the National Crime Agency, will add £7.0m of additional rent in FY26 and end on 28 September 2026, which also aligns with the site's proposed overall development programme.
On the redevelopment plans, the FTSE 250-listed firm said it was working closely with renowned architectural firm Allies and Morrison and the London Borough of Lambeth and that the design work was "moving forward at pace". Planning submission was targeted for Q225.
Spring Gardens' transformation into Citadel Place will see it provide in the region of 500 homes across three blocks, as well as shared amenity spaces, retail units and other ground-floor spaces, landscaped areas and connected pedestrian routes.
Chief executive Fredrik Widlund said: "We are pleased that the NCA have chosen to extend their tenure at Spring Gardens, and we look forward to working closely with them to ensure a smooth continuation of their tenancy. Furthermore, securing the future of the site through its redevelopment for residential use as Citadel Place demonstrates our commitment to sustainable urban development and long-term shareholder value".
As of 0910 GMT, CLS shares were up 1.34% at 73.37p.
Reporting by Iain Gilbert at Sharecast.com