BVIC S.A. and the international retailing chain Media Markt have further strengthened their relationship by agreeing to sign two new lease agreements within the next 15 days. Specifically:
1) We agreed to a lease agreement covering 7,291 sqm of retail space and 1,772 sqm of storage space at the commercial centre under construction at 340 Syggrou Avenue. The 10 year lease consists of an initial annual lease of Eur 2,340,000 and there is the option of renewing the lease for another 10 years. The lease represents nearly 50% of the total lettable area of the commercial centre, which will be delivered by the 30th of August 2008.
2) Furthermore, additional space has been leased by Media Markt at 49 Kifissias Avenue, increasing the ground level store and the first underground level, by 697 sqm and 724 sqm respectively, with an increase of Eur 300,000 in the annual lease.
Aris Vovos, CEO of BVIC said: 'We are delighted with these new lease agreements with Media Markt, that further strengthen our ties following the success of their first store at 49 Kifissias and that at Delta Falirou. The lease agreements demonstrate the Group's ability to enter into long-term lease agreements with high caliber national and international corporations.'