CLS Holdings has confirmed that its 143,000 sq m mixed-use development in Vauxhall, London has received planning permission and its associate, Catena AB, of which CLS Holdings has a 29.99% share, has received planning permission for a 150,000 sq m mixed-use project in Solna, Stockholm.
The Vauxhall Square scheme is located at the centre of the Nine Elms development and incorporates 520 new homes (410 private homes in two 50-storey towers and 110 affordable homes), 22,732 sq m of office space, 3,119 sq m of retail space, a 278-bedroom hotel, a 123-suite hotel, a 50-bedroom hostel for the homeless, 359-student units, a 3,777 sq m multi-screen cinema, and a new public square. The Solna scheme includes approximately 800 new apartments and 70,000 sq m of commercial space.
Speaking on the approval of the Vauxhall development, CEO of CLS Holdings, Richard Tice said: "We are delighted to have secured this major planning approval in the main Central London regeneration area, which is undergoing rapid transformation and attracting the attention of investors worldwide. The project is expected to create over 5,000 construction jobs, 2,000 permanent jobs, and deliver more than £500m of inward investment into the Vauxhall area."