Under the terms of the new lease, Buildings 1 and 2 will be leased to Sky Italia for an initial term of nine years and one month starting from Dec 15, 2023. Sky Italia is also given the option to renew for an additional term of six years. It will not have the right to pre-terminate the new lease.
Lendlease Global Commercial Italy Fund, the landlord of Sky Complex, has entered into a new lease agreement with its tenant, Sky Italia, announced Lendlease Global Commercial REIT (SGX:JYEU
) (LREIT) on Dec 18. Sky Complex comprises three buildings. Buildings 1 and 2 are located at Via Luigi Russolo 4, 20138 Milan, Italy, and Building 3 is located at Via Luigi Russolo 9, 20138 Milan, Italy.
The original lease for Sky Complex was due to expire in May 2032 and subject to an option held by Sky Italia to terminate its lease in 2026.
