New lease agreements by BVIC Group (GR)

BVIC Group has signed a closed 10 year lease agreement with Bestend Publishing SA, for the entire office building owned by the Group at 174 Syngrou Avenue in the municipality of Kallithea. The lease covers 1,945 m² of lettable area and 37 parking spaces. The annual lease income for the first of the ten years was set at €374,460.

BVIC Group signed a new 12 year lease agreement with Village Roadshow, the lease covers 2,214 m² of leisure space, namely bowling alleys, in the leisure and retail center being developed by the Group at Delta Falirou. The annual lease income for the first of the twelve years was set at €538,000. As a result, out of the 13,600 m² of lettable space, 62% has been has been leased to Village Roadshow, and 28% has been leased to Media Markt, bringing the total yearly lease income for the space leased thus far to €3,648,420.

Aris Vovos, CEO of BVIC, said: "We are delighted with this new lease agreement with Bestend Publishing SA, as well as with our second lease agreement with Village Roadshow. In the past twelve months over 20,000 sqm have been let by BVIC Group, and the letting of 174 Syngrou Avenue brings the total occupancy rate for BVIC's office portfolio to 100%. BVIC Group continues in its endeavors to optimize its real estate income portfolio, maintaining a portfolio of high quality income generating assets, protected by fixed long term leases."

Source: BVIC

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