CLS Holdings Unveils Redevelopment Plans for Citadel Place in Vauxhall
Why we think this is good
The RNS announcement outlines CLS Holdings' plans to redevelop its Citadel Place (Spring Gardens) property in Vauxhall, London, into a primarily residential-led scheme. This represents a positive strategic move for the company, as it seeks to capitalize on the regeneration of the area and provide new homes, amenities, and improved connectivity for the local community. The lease extension with the current occupier, the National Crime Agency, also provides additional rental income in 2026, which is a further positive. While the financial details of the redevelopment plans are not disclosed, the overall vision and collaborative approach with the local authorities suggest CLS is taking a thoughtful and sustainable approach to this project.
Key Points
- CLS has secured a 7-month lease extension with the National Crime Agency, adding £7.0 million of additional rent in 2026
- The redevelopment plans for Citadel Place will provide around 500 new homes across three blocks, including a 22-storey tower
- The scheme will feature shared amenity spaces, active ground floor uses, new open spaces and landscaping, and improved pedestrian connectivity
- CLS is working closely with architectural firm Allies and Morrison and the London Borough of Lambeth on the redevelopment plans
- The target date for the planning submission is Q2 2025, and CLS is committed to an inclusive public consultation process
Summary
CLS Holdings plc has announced updated redevelopment plans for its Citadel Place (Spring Gardens) property in Vauxhall, London. The company has secured a 7-month lease extension with the current occupier, the National Crime Agency, which will add £7.0 million of additional rent in 2026. CLS is moving forward with a residential-led redevelopment scheme that will provide around 500 new homes across three blocks, including a 22-storey tower. The plans also include shared amenity spaces, active ground floor uses, new open spaces and landscaping, and improved pedestrian connectivity. CLS is working closely with architectural firm Allies and Morrison and the London Borough of Lambeth on the redevelopment, with a target planning submission date of Q2 2025. The company is committed to an inclusive public consultation process, with the next session scheduled for 19 March 2025.