CLS inks expanded leasing deal at Hamburg property

4th Sep 2024 08:50

(Sharecast News) - CLS Holdings announced a significant leasing agreement at its Fangdieckstrasse 75 property in Hamburg on Wednesday, securing over 8,900 square metres of office and laboratory space.

The London-listed firm said the Hamburg Institut für Pathologie und Hämatopathologie (HPH), a specialist in diagnosing haematological diseases, had extended its current lease for 5,628 square metres until 2035, and added 3,311 sqm of additional space, bringing its total occupancy to 8,939 square metres.

It said the institute would move into the new space this month, following the departure of the current tenant, ensuring the property remained fully leased.

Fangdieckstrasse 75, acquired by CLS in 2007, had been transformed by the company into a science and healthcare hub.

The building has a total of 13,092 square metres of office, industrial, and laboratory space and is located near the Science City Hamburg Bahrenfeld area - a centre for science and technology start-ups, with excellent transport links.

"We are thrilled that HPH has not only extended their existing lease for over 10 years but has also chosen to lease additional space in Fangdieckstrasse 75," said chief executive officer Fredrik Widlund.

"Hamburg-Bahrenfeld is an up-and-coming commercial area and CLS has successfully repositioned the property as an attractive location for science and technology organisations, and demand from occupiers in this sector remains high."

At 0946 BST, shares in CLS Holdings were up 0.76% at 92.5p.

Reporting by Josh White for Sharecast.com.