CLI Cls Holdings Plc

RNS No 1514q
CLS HOLDINGS PLC
22nd September 1997

                    CLS PRELETS ONE LEICESTER SQUARE

The board of CLS Holdings plc ("CLS") is pleased to announce that it has
signed contracts for the preletting of the major part of its One Leicester
Square property.  It will shortly commence the refurbishment of this building
as a major new entertainment venue.

Big Beat Group, which is 35 per cent owned by Royal Bank of Scotland
Development Capital, have agreed to enter into a new 25 year FRI lease at an
initial rent of #2 million per annum. The property is now fully let and the
total initial annual rent will be #2.222 million per annum.

Big Beat operates 20 venues in Scotland.  One Leicester Square represents the 
company's first venture into England.  It is now exploiting its success
through the Leicester Square development and through other international
ventures.

Executive Chairman of CLS, Sten Mortstedt said:

"We are pleased  to be commencing the development of this project.  We have
achieved our targets and anticipate a very significant increase in value of
this prime property."

Ron McCulloch, Managing Director of Big Beat, said:

"One Leicester Square is the premier location for our brand of venue in Europe
and possibly the world.  It is estimated that over 40 million people pass the
front door every year. It sits at the heart of the West End's entertainment
district which is itself situated in one of the world's most vibrant cities. 
We are delighted to have secured the lease and are excited by the prospect it
represents. We are confident that we have the expertise to create a world-
beating venue now we have the perfect location".


Enquiries:

Glyn Hirsch, Chief Executive, CLS Holdings plc              
0171 582 7766
Brian Basham/Clare Abbot, Basham & Coyle                     
0171 253 3300


END



MSCAKVBKBOKKAAR

Grafico Azioni Cls (LSE:CLI)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Cls (LSE:CLI)
Storico
Da Lug 2023 a Lug 2024