Regulated information
Achievement of the stated strategy to invest 65% of the real estate portfolio in inner-city shops. On 31 December 2014, 68% of the real estate portfolio consists of inner-city shops (58% on 31 December 2013), with 49% of the portfolio already invested in premium city high street shops, located in the prime high streets of the major cities of Antwerp, Brussels, Ghent and Bruges.
Acquisition of an inner-city shop in a prime location on Veldstraat in Ghent in July 2014 for an investment amount of € 27,7 million.
Divestment of 19 non-strategic retail warehouse properties and inner-city shops in secondary locations with a total fair value of € 42,9 million (12% of the real estate portfolio).
Realisation of 27 rental transactions representing approx. 16% of the total annual rental income, resulting in an average increase in rent of 5%.
Increase in the occupancy rate in 2014 by 2,5% to 97,9% as at 31 December 2014 via leases and divestments in properties with a low occupancy rate.
Increase in the fair value of the existing real estate portfolio of 3% in 2014, mainly through stronger yields on the prime locations in the city centres of the major cities.
The gross dividend in 2014 rises to € 2,72 per share (€ 2,65 for financial year 2013). A gross dividend yield of 4,7% based on the closing share price on 31 December 2014, being € 57,97.
The debt ratio amounts to only 31% as at 31 December 2014.
The change to the status of regulated real estate company (RREC) is approved by the general meeting of shareholders on 27 October 2014.
Further intensification of the strategy by focussing on premium city high street shops (Antwerp, Brussels, Ghent and Bruges).