AEON Stores' (Hong Kong) (HKG:0984) majority-owned Guangdong AEON Teem agreed to lease additional property, adjacent to its existing property in Guangdong, China, from its landlord Guangzhou East Station Tianhuicheng for about 15 years, a Wednesday Hong Kong bourse filing said.

The Guangzhou City property to be leased under a supplemental agreement to the original lease agreement has a total lease area of 2,417.53 square meters.

The lease period starts on Thursday, Nov. 7, 2024, and lasts until Oct. 31, 2039, the filing said.

The total rent for the premises comes in at 47.7 million yuan and will be paid monthly while the total management fee under the supplemental agreement comes in at 12.2 million yuan.

The new premises will also become a retail store for the group's retail businesses, the disclosure said.