CLS sees good progress in London

Property developer CLS Holdings yesterday has said the London market is heating up beyond the West End and City, as it revealed that its new projects were progressing well. The firm hopes to start building a 143,000 square foot scheme in Vauxhall next year. Since January, vacancy rates had fallen from 4.4 to 3.5 per cent, CLS added, and annual contracted rents were up 20 per cent on last year to £84.2m.