Electric car venture Better Place Inc. has vacated office space it rented from Amot Investments Ltd. (TASE:AMOT) in Rosh Ha'Ayin.
In the conference call following the publication of Amot's financial report for the first quarter of 2012, CEO Avhsalom Mousler said, "The decline in the occupancy rate was due to the vacating of space by Better Place. Better Place did not ask to vacate the premises; we asked it to leave because it had begun to sublet space."
Amot was not pleased by Better Place's action at the Amot in Park Afeq building, which Amot jointly owns with Denisra International Ltd. Better Place's lease had several more years to run, but agreed, after talks between the parties, to vacate the premises immediately and pay compensation to the landlords.
Mousler added, "Obviously, the return of the space included payment by Better Place for 18 months rent in advance. As soon as we received the space, we leased part of it, which we will report in the second quarter.
Better Place said in response, "As part of Better Place's streamlining, the company has vacated space in agreement with Amot and in full cooperation between the parties.
Mousler said in response, "The deal at the Amot Park Afeq was closed in a good atmosphere with Better Place. We have always had excellent relations with Better Place, and they will stay that way."
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2013
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