First Property Group plc announced it has leased some 2,100 sq. metres, or 11.6% of the Group's 17,937 sq. metres share in Blue Tower, Warsaw.

As a result of this new lease, the net operating income should increase by around 25% from some EUR1.6 million per annum to EUR2.0 million per annum. The additional income will commence once the space has been fitted out, which is due to be completed by the end of this calendar year. The Group acquired an additional 7,170 sq.

metres (32%) of Blue Tower in August 2022. Of this, 5,158 sq. metres was vacant at the time.

That transaction increased the Group's share in the tower from 48% to 80%. When fully let Blue Tower should generate a net operating income of some EUR2.9 million per annum. Blue Tower is very well located, opposite Warsaw's City Hall, adjacent to an underground railway station, a tram interchange, and near Warsaw's renowned Old Town.