Evans Randall has secured two leasing transactions for buildings in its Continental European portfolio which are being marketed to prospective investors. The privately held UK investment banking and private equity group said that the transactions signal the completion of the business plans for the properties.
Evans Randall has agreed to lease three floors totalling more than 4,800 m2 of Grade A office space at The Rock, South Axis, Amsterdam, to Russian telecom operator VimpelCom. As a result, all of the building's offices are now let, with VimpelCom joining core tenant De Brauw (a leading Dutch law firm) which occupies the remainder of the office space. VimpelCom’s lease will run until 2019 at a rent of EUR 325 per m2, and includes the option to extend the current term by up to 10 years. Two retail units, covering 307 m2, and archives covering 170 m2, are now the only remaining spaces in the 30,000 m2 building still to be let.
In a separate transaction, Evans Randall has secured a lease extension from Deutsche Telekom for its Munich headquarters. Deutsche Telekom has agreed a five-year extension on more than 55,000 m2 of office space across the 15-storey towers of the Telekom Centre Munich complex, which will see the company occupy the building until at least 2022.
Both properties were originally acquired in 2007. |