Stoneweg European REIT renews leases of assets in Netherlands, Poland

These will extend the company’s Weighted Average Lease Expiry by almost six months to 5.3 years.

Stoneweg European Real Estate Investment Trust (SERT) has renewed nearly 27,000 square metres of office leases across two office assets in the Netherlands and Poland.

The first is located at the Netherlands’ Central Plaza in Rotterdam with Coolblue BV, a Dutch e-commerce company. The other is at Poland’s Green Office in Kraków Motorola Solutions.

These will extend the company’s Weighted Average Lease Expiry by almost six months to 5.3 years.

“The leases were secured at market rents... with a combined annual rental of close to €5.5m per annum. Based on current total passing rents, the overall office portfolio is around 9% under-rented,” Simon Garing, SERT’s manager’s chief executive officer, said.

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