Release date: 24 June 2024
Embargoed until: 07:00 am
CLS Holdings plc ("CLS" or the "Group")
CLS announces development plans for Citadel Place in Vauxhall
CLS is pleased to announce the plans for its Citadel Place (aka Spring Gardens) site in Vauxhall, London. The property is one of the largest in the CLS portfolio and represents an exciting opportunity to further regenerate the area and create a vibrant community hub while also providing long-term shareholder returns.
The existing site, currently characterised by low-rise office buildings built in the 1990s, is poised for a remarkable transformation. With the expected vacancy in 2026 of the four buildings, CLS aims to bring a well-considered and harmonised mixed-use development to the area.
CLS has partnered with the renowned architectural firm Allies and Morrison to design Citadel Place. Their vision combines modern aesthetics with a commitment to sustainability, ensuring that the development blends with, and enhances, its surroundings.
Mixed-Use Development:
- Residential Homes: The plans include building 180-200 new homes.
- Student Accommodation: Citadel Place will provide purpose-built student accommodation (PBSA) with around 450 bedrooms, catering to the growing student demand in the area.
- Shared Amenity Spaces: Residents and visitors will enjoy communal spaces designed for relaxation, recreation, and social interaction.
- Active Ground Floor Uses: Retail units and other ground-floor spaces will contribute to the vibrancy of the development.
- New Open Space: Citadel Place will feature landscaped areas, including play spaces, enhancing the quality of life for residents.
- Connected Pedestrian Routes: Creating pedestrian-friendly pathways through the site will complete the connection between Vauxhall Pleasure Gardens and Pedlar's Park, encouraging movement and interaction between these areas.
Fredrik Widlund, CEO of CLS Holdings, said: "Citadel Place represents our commitment to sustainable urban development. We envisage a place where people can live and thrive; supporting the community within Vauxhall. CLS has operated and invested in the Vauxhall area for over 35 years and continues to work closely with the London Borough of Lambeth, residents and the local business community and we are excited to now start on the next phase of development."
The first public consultation session will be held on 18 July 2024 between 4 - 7pm. This will be an in-person session close to the site at one of CLS' recent developments in Vauxhall, The Coade, 97 Vauxhall Walk, London, SE11 5EL.
In collaboration with the London Borough of Lambeth, we are committed to an inclusive public consultation process. Local residents, businesses, and stakeholders will have the opportunity to provide feedback on the proposed plans. Subject to the consultation with the community and discussions with members and officers at Lambeth Council, CLS hopes to submit a planning application for Citadel Place early next year.
To find out more about the proposals, or if you would like to provide us with your feedback on the proposals, please email contact@citadelplace.co.uk
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For further information, please contact:
Media Contact:
Edelman Smithfield (Financial PR)
Alex Simmons
Hastings Tarrant
+44 (0)20 3047 2546
CLS Holdings plc
(LEI: 213800A357TKB2TD9U78)
Fredrik Widlund, Chief Executive Officer
Andrew Kirkman, Chief Financial Officer
+44 (0)20 7582 7766
Liberum Capital
Jamie Richards
+44 (0)20 3100 2128
Panmure Gordon
David Watkins
+44 (0)20 7886 2720
Berenberg
Matthew Armitt
Richard Bootle
+44 (0) 203 207 7800
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