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  5. IN BRIEF: First Property signs two new leases for Krakow office

Pin to quick picksFirst Property Share News (FPO)

First Property Information

Share Price Information for First Property (FPO)

London Stock Exchange
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Share Price: 18.25
Bid: 18.00
Ask: 18.50
Change: 0.00 (0.00%)
Spread: 0.50 (2.778%)
Open: 18.25
High: 18.25
Low: 18.25
Prev. Close: 18.25
FPO Live PriceLast checked at -

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IN BRIEF: First Property signs two new leases for Krakow office

Thu, 20th Apr 2023 14:15

First Property Group PLC - London-based property fund manager and investor - Signs two new leases for 1,472 squared metres in total at Pilot Tower, Krakow, an office property in which it has an 18% interest via its shareholding in Fprop Krakow Ltd. Says the building is now 73% leased, having lost its main tenant Ringier Axel Springer Podolska in July 2021, during Covid-19 lockdown.

As a result of these two new leases, the net operating income of Pilot Tower should increase by some 44% to EUR1.3 million per annum from EUR865,000 per annum.

Chief Executive Officer Ben Habib says: "This is a creditable performance in a difficult market. The office vacancy rate in Krakow is 16%."

Current stock price: 26.00 pence, up 3.2% in London on Thursday

12-month change: down 25%

By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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