New schemes lift vacancy rates at CLS

Kasmira Jefford
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PROPERTY group CLS Holdings said yesterday it enjoyed a strong start to the year, due to steady demand from potential occupiers in its sites, particularly in London.

The FTSE 250 firm said that vacancy rates had risen to 4.8 per cent since the start of the year to 12 May, after it completed several schemes and released 4,421 square metres of new space from its development portfolio.

This includes its Spring Mews scheme in Vauxhall, which includes a fully let student building and a 93-bedroom hotel run by InterContinental Hotels Group. It has also completed an office building at 138 Fetter Lane, near Holborn.