Planning resolution granted for Westminster Tower

RNS Number : 9695R

CLS Holdings PLC

18 September 2014

Release date: 18 September 2014

Embargoed until: 07:00

CLS Holdings plc

("CLS", the "Group", the "Company")

Resolution to grant planning permission for residential-led, mixed use redevelopment

of Westminster Tower, Albert Embankment, London SE1

CLS is pleased to announce that a resolution to grant planning permission has been secured for a residential-led, mixed use redevelopment of Westminster Tower, Albert Embankment, London SE1.

Highlights of the scheme include:

- Major refurbishment of the existing building, including a new Portland stone façade

- Three additional stories providing a total of 23 privately-owned residential units and 11 shared ownership units

- 1,441 sq m of office space

- Residents' gym and amenity space

- 66 cycle spaces

- 16 car parking spaces

As part of the Group's strategy to implement sustainable initiatives throughout its portfolio, the development will include an innovative ground source heat system which will provide all of its heating and cooling needs.

Westminster Tower has an unrivalled position on the Albert Embankment, with spectacular views west over the River Thames, north to the Palace of Westminster and Lambeth Palace, and south to Battersea Power Station.

CLS was advised by Boyer Planning, with architectural design by The Manser Practice.

Sten Mortstedt, Executive Chairman of CLS, commented:

"We are delighted to have secured this resolution, which will allow us to provide a sustainable, mixed-use development of offices, residential and affordable housing."

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For further information, please contact:

CLS Holdings plc +44 (0)20 7582 7766

www.clsholdings.com

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman and Acting CEO

John Whiteley, Chief Financial Officer

Liberum Capital Limited +44 (0)20 3100 2222

Tom Fyson

Charles Stanley Securities +44 (0)20 7149 6000

Mark Taylor

Kinmont Limited +44 (0)20 7087 9100