Leasings take longer for CLS

CLS Holdings has warned that macro and political factors are dragging out deals as occupiers push back decisions on lettings.  In a stock market update, the company said it had sealed 81 lettings over the first nine months of the year, generating more than £10m in annual rent at 5.5% above estimated rental value. But chief executive Fredrik Widlund said the timing of transactions was stretching out. “The letting trend remains positive, although we are experiencing longer decision timelines due to macro and political factors slowing progress,” he said. “However, with two-thirds of our vacant spaces EPC-rated A or B, we believe we are well placed for the period ahead.” Recent deals include the first letting at Artesian on Prescot Street, E1, where Médecins Sans Frontières took a 10-year lease for more than 12,000 sq ft.