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Developer at £400m Vauxhall Square development amends plans

CLS Holdings, the property developer behind the £400m scheme at Vauxhall Square, has received approval from Lambeth Council Planning Committee to amend its plans for the site.

The new plans for the twin tower development will see the originally planned four-star hotel scrapped and replaced with over 100,000 sq ft of grade A offices, bringing the total amount of office space in the scheme to over 350,000 sq ft.

Spread over two 50-storey towers, the Vauxhall Square scheme will contain 124 apartments, a 186 suite hotel, 39,800 sq ft. of retail, a multi-screen cinema and a hostel, along with the newly-expanded office space offering.

According to a statement on their website, Vauxhall-based CLS Holdings hope the amendments will ‘enhance the value of the scheme’ as they look to take advantage of the capital’s booming office market, where office rents are predicted to rise by a further 10% this year.

Sten Mortstedt, Executive Chairman of CLS Holdings plc, commented: “We are delighted to have increased the element of offices in our Vauxhall Square scheme, which plays to our strengths as office specialists.

“They will bring much needed commercial space and jobs to an undersupplied area at a time of high occupational demand and rising office rents.”