KMC Properties ASA

Regulatory Filings • Dec 29, 2017

Storm Real Estate ASA - end of year status rental agreements

Storm Real Estate ASA - end of year status rental agreements

With reference to the quarterly presentation on 10 November 2017, where the company gave a status of the letting process.

Since the presentation on 10 November, the company has entered into a further 6 lease agreements for a further 1,706 square meters in the Gasfield property in Moscow.

The Gasfield property had approximately 80% vacancy after the agreement with the anchor tenant expired on 31/05/2017. The former anchor tenant rented 8,756 square metres in the building.

Since the anchor tenant vacated the building, the company has now entered into 18 new agreements, totalling 3,016 square metres, equivalent to 34% of the space which became vacant this summer. Rental levels are at the current market level at around 20.000 RUB per sq.m. incl opex and VAT.

The current occupancy rate is 47%.

The company has a good interest from new potential tenants who appreciate the building's location, standard and parking facilities.

The company will announce signing of new contracts if they are of a material character.