Regulated information
Focus on premium city high street shops strategy continues to be primary theme in activities.
Acquisition of a premium city high street shop on Schuttershofstraat in Antwerp for an investment amount of € 4 million.
Start of prominent redevelopment and thorough restoration of a premium city high street shop of 3.000 m2 on Zonnestraat in Ghent.
Divestment of a non-strategic shop in Bruges.
As at 31 March 2015, 50% of the real estate portfolio consists of premium city high street shops, 18% of high street shops and 32% of other retail property (retail parks and retail warehouses).
Realisation of 6 rental transactions representing approximately 4% of the total annual rental income, resulting in average rental growth of 29%.
Occupancy rate as at 31 March 2015: 96% (98% as at 31 December 2014). The occupancy rate of the premium city high street shops remains stable at 100% compared to the end of 2014.
Increase in fair value by € 4 million or approximately 1% of the existing real estate portfolio in the first quarter of 2015, mainly as a result of the stronger yields of the premium city high street shops in the larger cities.
Decrease of the operating distributable result in the first quarter of 2015 to € 0,64 per share (€ 0,67 for the first quarter of 2014) due to the divestment in 2014 of 19 non-strategic shops.
Limited debt ratio of 31% as at 31 March 2015.