Far East Consortium International Limited (FEC)(00035) said it has entered into an 18-year lease contract with a flagship sports goods retailer, Shanghai Really Sports Equipment Limited Company, for its Wuhan mall located at the heart of downtown Wuhan.
Really Sports, one of the largest sports goods retailers in China, has teamed up with various international sports brands including Nike, Adidas, Puma, Onitsuka Tiger, Originals and Jordan, to offer superior sports shoes, apparels, fitness equipment, and related accessories. Really Sports operates a nationwide retail network with over 1,000 retail stores and has over 5,000 employees.
The 18-year lease commencing in October 2020 comprises seven floors with a total retail area of 312,000 square feet. Yearly rental will amount to HK$50 million and will include a step-up of 8% every three years. The tenant will also invest capital to further upgrade this prime city center asset.
30/09/2020 15:30
FE Consortium signs 18-year lease with Really Sports
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