The property portfolio as at December 31, 2008, comprises 39 assets with total floor space of 983,000 sqm and with gross rental value of approximately EUR 77 million. The economic occupancy rate was 95% with an average lease length of 6.6 years. The portfolio has been valued by DTZ Sweden AB as at December 31, 2008. The total value of the portfolio was EUR 605 million.
Portfolio as at 31/12/2008
|
|
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 |
17 |
91% |
3.8 |
125 |
21% |
| Industrial |
22 |
612 |
32 |
94% |
6.2 |
246 |
40% |
| Logistics |
7 |
101 |
5 |
100% |
13.3 |
59 |
10% |
| Retail |
3 |
50 |
15 |
99% |
5.4 |
89 |
15% |
| Hotel |
3 |
34 |
8 |
100% |
11.1 |
86 |
14% |
| Total |
39 |
983 |
77 |
95% |
6.6 |
605 |
100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sweden |
29 |
803 |
50 |
93% |
5.1 |
391 |
65% |
| Denmark |
2 |
45 |
4 |
100% |
16.0 |
40 |
7% |
| Lithuania |
1 |
4 |
1 |
100% |
7.0 |
8 |
1% |
| Germany |
1 |
15 |
1 |
100% |
12.6 |
11 |
2% |
| Poland |
2 |
44 |
1 |
100% |
12.8 |
15 |
2% |
| Russia |
4 |
72 |
20 |
99% |
7.7 |
140 |
23% |
| Total |
39 |
983 |
77 |
95% |
6.6 |
605 |
100% |
|
|
|
|
|
|
|
|
| Breakdown by market value |
|
|
 |
|
 |
The estimated net rental income for the properties held on December 31, 2008, was EUR 51 million, resulting in a net yield of 8.4%.
December 31, 2008, analysis for properties held at 31/12/2008
|
Gross rental
income (€m) |
Property
costs (€m) |
Net rental
income
(€m) |
Net yield (%) |
|
1) |
1) |
1) |
2) |
| Office |
15 |
(6) |
9 |
7.3% |
| Industrial |
30 |
(8) |
22 |
9.1% |
| Logistics |
5 |
(1) |
4 |
7.4% |
| Retail |
13 |
(4) |
9 |
10.2% |
| Hotel |
8 |
(1) |
7 |
7.1% |
Total
|
71 |
(20) |
51 |
8.4% |
|
|
|
|
|
| Sweden |
47 |
(15) |
32 |
8.3% |
| Denmark |
3 |
0 |
3 |
7.1% |
| Lithuania |
1 |
0 |
1 |
6.9% |
| Germany |
1 |
0 |
1 |
7.7% |
| Poland |
1 |
0 |
1 |
7.6% |
| Russia |
18 |
(5) |
13 |
9.3% |
| Total |
71 |
(20) |
51 |
8.4% |
(1) Actual figures for 2008, adjusted as if the properties have been held the entire year.
(2) Actual Net Rental Income divided by the DTZ market value per December 2008.
This page was last updated 16/04/2009