Stoneweg Reit signs lease and upgrade deals with NN Group for office building in The Hague

[SINGAPORE] Stoneweg European real estate investment trust (Reit) has signed a 20-year lease renewal with NN Group for Haagse Poort, a distinctive-looking office building in the Central Business District of The Hague in the Netherlands.

The Reit said in a bourse filing on Monday (Apr 28) that this lease renewal will be effective no later than December 2027, subject to municipality approvals.

Separately, the manager of Stoneweg Reit also signed a cooperation agreement with NN Group, its largest tenant, for asset enhancements of the building. Planned improvements include the addition of two atria, which add 2,500 sq m to the net leasable area of the building. The improvements will also make the building climate-neutral and energy-efficient.

Andreas Hoffmann, chief investment officer of the Reit’s manager, said: “Haagse Poort will become a leading prime office asset for energy efficiency in the Netherlands, offering high-quality amenities for NN Group employees.”

Units of Stoneweg Reit closed 2.3 per cent higher or S$0.05 to S$2.21 on Monday.