Luxury Real Estate Signs New Lease With Existing Tenant for Six Senses Yao Noi Project
Thailand-based property fund Luxury Real Estate Investment Fund (BKK:LUXF) has signed a new lease agreement for its Six Senses Yao Noi Project with its existing tenant, Sustainable Luxury Hospitality (Thailand), according to a Wednesday filing to the Thai stock exchange.The company's shares were down over 1% in Thursday's trade.The current lease agreement for the project is scheduled to expire on June 30, 2027. The new lease agreement for the assets on which the Six Senses Yao Noi Project is based is for a term of 3 years starting July 1, until June 30, 2030.The fixed rental fee and movable properties rental fee have been set at 102.8 million Thai baht in the first year of the lease, and the fixed lease fee will be increased at the rate of 3% per year until the end of the lease term.
