Corio has leased the entire office building Noortse Bosch located at the Vijzelgracht in Amsterdam to the Stichting Netherlands Authority for the Financial Markets (AFM). Besides Corio has signed a lease agreement with a French publicly quoted company for the remaining vacant space of approximately 8,000 m² of office space within the building Kupka C located in La Défense, Paris.
Corio Nederland Kantoren has leased the entire office building Noortse Bosch located at the Vijzelgracht in Amsterdam to the Stichting Netherlands Authority for the Financial Markets (AFM). The building, which is still under renovation, comprises 17,300 m² office space and 133 parking spaces in the parking garage below the building. Noortse Bosch is excellently located in the centre of Amsterdam with a station of the future North-South subway right in front of the entrance. The lease agreement against conditions in conformity with the market will start 1 January 2007.
As a result of this transaction Noortse Bosch will be 100% let and the occupancy rate of the office portfolio of Corio Nederland Kantoren with a lettable area of 319,300 m² will remain unchanged at 91% as Noortse Bosch was still under renovation and therefore not yet available for occupation by tenants.
Corio France has signed a lease agreement with a French publicly quoted company for the remaining vacant space of approximately 8,000 m of office space (9 out of 13 floors) and 184 parking spaces within the building Kupka C located in La Défense, Paris. The office building Kupka C has a total lettable area of 13,000 m²(office space, storage and restaurant). The new tenant will lease the office space from 1 September 2006 on basis of a 9 years contract with a fixed minimum period of 6 years. The headline rent of €310 per m² for the offices which will be stepped and the granted nine month rent-free period are in conformity with the market; after this rent-free period the total rent for Corio with an 40% interest in the building will be approximately €950,000 in the first year. The tenant has an option on the space of the other tenants in case they might leave.
As a result of this transaction Kupka C will be 100% let and the occupancy rate of the office portfolio of Corio France with a total lettable area of 74,800 m² will improve from 86% at the end of December 2005 to 97 %.
Source: Corio
