The property portfolio as at December 31, 2009, comprises 38 assets with total floor space of 985,000 sqm and with gross rental value of EUR 77.9 million. The economic occupancy rate was 96% with an average lease length of 6.0 years. The portfolio has been valued by DTZ Sweden AB and DTZ Russia Ltd as at December 31, 2009. The total value of the portfolio was EUR 554.6 million.
Portfolio as at 31/12/2009
|
|
No. of
properties
|
Area
(sqm '000)
|
Gross rental
value (€m)
|
Occupancy rate,
economic (%)
|
Average lease length
(years)
|
Market value
( €m)
|
%Market
value
|
| Office |
4 |
186 |
18 |
92% |
4.2 |
126 |
23% |
| Industrial |
21 |
609 |
34 |
95% |
5.4 |
230 |
41% |
| Logistics |
7 |
101 |
5 |
100% |
12.1 |
55 |
10% |
| Retail |
3 |
50 |
13 |
97% |
4.7 |
67 |
12% |
| Hotel |
3 |
39 |
8 |
100% |
10.0 |
77 |
14% |
| Total |
38 |
985 |
78 |
96% |
6.0 |
555 |
100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sweden |
28 |
800 |
53 |
94% |
4.7 |
379 |
68% |
| Denmark |
2 |
45 |
3 |
100% |
14.9 |
37 |
7% |
| Lithuania |
1 |
4 |
1 |
100% |
2.2 |
5 |
1% |
| Germany |
1 |
15 |
1 |
100% |
11.7 |
10 |
2% |
| Poland |
2 |
44 |
2 |
100% |
11.8 |
13 |
2% |
| Russia |
4 |
77 |
18 |
98% |
7.3 |
111 |
20% |
| Total |
38 |
985 |
78 |
96% |
6.0 |
555 |
100% |
|
|
|
|
|
|
|
|
The estimated annualised net rental income for 2009 for the properties held on December 31, 2009, is EUR 54.2 million, resulting in a net yield of 9.8%.
December 31, 2009, analysis for properties held at 31/12/2009
|
Gross rental
income (€m) |
Property
costs (€m) |
Net rental
income
(€m) |
Net yield (%) |
|
1) |
1) |
1) |
2) |
| Office |
16 |
(7) |
9 |
7.5% |
| Industrial |
35 |
(10) |
25 |
10.7% |
| Logistics |
5 |
0 |
5 |
9.0% |
| Retail |
12 |
(4) |
8 |
12.0% |
| Hotel |
8 |
(1) |
7 |
9.3% |
Total
|
76 |
(22) |
54 |
9.8% |
|
|
|
|
|
| Sweden |
52 |
(17) |
35 |
9.4% |
| Denmark |
3 |
0 |
3 |
8.0% |
| Lithuania |
1 |
0 |
1 |
10.9% |
| Germany |
1 |
0 |
1 |
8.5% |
| Poland |
1 |
0 |
1 |
10.4% |
| Russia |
18 |
(5) |
13 |
11.6% |
| Total |
76 |
(22) |
54 |
9.8% |
(1) Actual figures for 2009, adjusted as if the properties have been held the entire year.
(2) Actual Net Rental Income divided by the DTZ market value per December 2009.
This page was last updated 16/04/2010