AEON STORES (00984.HK): Rent reduced under lease agreement, remaining-term rent cut to about RMB 359 million
- The landlord and AEON South China entered into the renewal agreement on 8 July 2020 for a term of 11 years from 27 November 2023 to 26 November 2034, with total rent payable during the lease term (excluding tax) of approximately RMB 585 million.
- The first supplemental agreement dated 26 November 2024 reduced the leased area of the 2020 premises from 70,886 square metres to 67,449.45 square metres, and the commercial rentable area from 68,845 square metres to 65,251.23 square metres.
NewTimeSpace News: On 16 September 2026, AEON Stores (Hong Kong) Co., Limited (stock code: 00984) announced that its wholly-owned subsidiary AEON South China has entered into a third supplemental agreement with the landlord in respect of the renewal agreement, pursuant to which the unit rental price of the premises has been reduced. Under the third supplemental agreement, the total rent payable by AEON South China for the remaining term of the lease (excluding taxes) has been reduced from approximately RMB 495 million to approximately RMB 359 million.
The announcement referred to the renewal agreement entered into between the landlord and AEON South China on 8 July 2020 in respect of the 2020 premises, for a term of 11 years from 27 November 2023 to 26 November 2034, both dates inclusive, with total rent payable during the lease term (excluding tax) of approximately RMB 585 million. The first supplemental agreement dated 26 November 2024 reduced the leased area of the 2020 premises from 70,886 square metres to 67,449.45 square metres and the commercial rentable area from 68,845 square metres to 65,251.23 square metres, while the second supplemental agreement concerned the handover of the 2024 premises by the landlord to AEON South China. Save as disclosed, all other terms of the original arrangements remain in full force and effect.
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