United Urban Investment Corporation [8960.T]
TOKYO, Apr 28 (Pulse News Wire) – United Urban Investment Corporation (8960.T) signed a temporary land lease agreement for its OSAKA SHINSABIRO OPa Main Building property. The agreement was reached with an undisclosed tenant and covers a total area of 2455.16 square meters (742.68 tsubo).
Under the terms of the lease, which runs from June 01, 2026 to May 24, 2029, the rent for the land quasi-cooperative share during the period from June 1, 2026 to May 24, 2027 will be ¥686 million. For subsequent periods, the rent will adjust accordingly: - From May 25, 2027 to November 23, 2027: ¥280 million - From November 24, 2027 to May 24, 2028: ¥210 million - From May 25, 2028 to November 23, 2028: ¥140 million - From November 24, 2028 to May 24, 2029: ¥69 million Additionally, a deposit of ¥0 has been agreed upon.
The lease does not allow for rent adjustments throughout the term and can be terminated early if the sale contract is fully rescinded or completed. This agreement follows the initial sale of the building portion of the property and the phased sale of the land rights over six installments.
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