NEXTENSA SA Regulated information
Under embargo till 17/11/2015 - 7.30h AM
On 20 October 2015 the notarial deed for the sale of a less important non-strategic storage building located Wenenstraat in Meer was recorded for a sales price of € 1.5 million1.
In the Grand Duchy of Luxembourg the structural shell work of the office project 'Royal20' at boulevard Royal in the center of the city of Luxembourg was finalized. The spectacular façade of the building has in the meanwhile become very visible. For the construction of the façade with tailor-made glass panels, high-tech engineering was called upon.
The final reception of the office project and the transfer of property2are expected to take place in the second quarter of 2016.
1 The value agreed upon takes into account the provisions of article 40 §1 of the law of 12 May 2014 with regard to RRECs.
2 For more information we refer to p 3 of the half-year financial report 2015.
Royal20, Grand Duchy of Luxembourg Square de Meeûs, 1000 Brussels
This building of 5,500 m², located in the central business district of Brussels will be entirely rebuilt as a Triple A building that will meet the highest quality standards as to sustainability (Breeam Excellent certificate expected) and technology. Square de Meeûs benefits from a unique location amidst the European district. The building permit for this project has been introduced and the building will be commercialized in 2017 when the offer of new buildings will be limited.
In Belgium the rental contract with the European Parliament was extended for one year, for the building Montoyer 63 in 1000 Brussels, resulting in the fact that the planned redevelopment will start in 2017 instead of in 2016. In the meanwhile, the building permit is being treated. The reception of the new building is consequently foreseen in the course of 2018.
In the Grand Duchy of Luxembourg a new rental contract was concluded with one of the current tenants for the retail site in Strassen for 4,100 m2, entering into effect on 1/01/2017 for a fixed period of 15 years. This new rental contract fits within the framework of the planned redevelopment of the Strassen site that will become a real shopping center and comprise over 22,000 m2in total (cf. supra).
On 06/10/2015 Leasinvest Real Estate proceeded to the sale of bearer securities of which the holders had not reported themselves on 17 July 2015. This sale took place on 06/10/2015 on Euronext Brussels (cf. publication Belgian Official Gazette of 2/09/2015) and related to 3,392 shares, redeemed by Leasinvest Real Estate itself against a share price of
€ 82 per share.
At the beginning of November Piet Vervinckt has taken office as Chief Financial Officer. Previously, Piet Vervinckt worked at BNP Paribas Fortis as senior relationship manager for 18 years, of which nearly 10 years in BNP Paribas Fortis Real Estate Finance where he gained an extensive experience in bank financing of real estate investors and developers. He was before joining Leasinvest Real Esate also non-executive director within some real estate companies.
For the third year in a row Leasinvest Real Estate received an EPRA Gold Award for its annual financial report 2014. The EPRA Best Practices Recommendations make the financial statements of public real estate companies clearer and more comparable across Europe. This in turn enhances the transparency and coherence of the sector as a whole and plays an important role in attracting global flows of capital into the European listed property sector. (www.epra.com).
-
Key figures
Key figures real estate portfolio (1)
30/09/2015
30/09/2014
31/12/2014
Fair value real estate portfolio (€ 1,000) (2)
756,721
709,413
756,327
Fair value investment properties including participation Retail Estates (€ 1,000) (2)
825,363
754,253
808,126
Investment value investment properties (€ 1,000) (3)
771,050
722,630
770,680
Rental yield based on fair value (4) (5)
7.23%
7.24%
7.23%
Rental yield based on investment value (4) (5)
7.10%
7.11%
7.10%
Occupancy rate (5) (6)
97.31%
95.82%
96.24%
Average duration of leases (years)
5.19
4.88
5.08
The real estate portfolio comprises the buildings in operation, the development projects, the assets held for sale, as well as the buildings presented as financial leasing under IFRS.
Fair value: the investment value as defined by an independent real estate expert and of which the transfer rights have been deducted. The fair value is the accounting value under IFRS. The fair value of Retail Estates has been defined based on the share price on 30/09/2015.
The investment value is the value as defined by an independent real estate expert and of which the transfer rights have not yet been deducted.
Fair value and investment value estimated by real estate experts Cushman & Wakefield / Winssinger and Associates / Stadim / SPG Intercity.
For the calculation of the rental yield and the occupancy rate only the buildings in operation are taken into account, excluding the assets held for sale.
The occupancy rate has been calculated based on the estimated rental value.
30/09/2015
30/09/2014
31/12/2014
Net asset value group share (€ 1,000)
356,013
326,269
336,410
Net asset value group share per share
72.1
66.1
68.1
Net asset value group share per share based on investment value
75.0
68.7
71.0
Net asset value group share per share EPRA
79.7
72.2
75.5
Total assets (€ 1,000)
862,465
781,483
836,914
Financial debt
445,482
407,017
441,155
Financial debt ratio
53.29%
53.18%
54.27%
Average duration credit lines (years)
2.49
3.16
3.2
Average funding cost (excl. changes in fair value fin. instruments)
3.53%
3.66%
3.63%
Average duration hedges (years)
6.55
5.63
6.13
30/09/2015
30/09/2014
31/12/2014
Rental income (€ 1,000)
37,600
37,607
50,175
Net rental result per share
7.61
7.61
10.16
Net current result (€ 1,000)
18,487
20,783
26,062
Net current result per share
3.74
4.21
5.28
Net result group share (€ 1,000)
25,391
21,303
32,572
Net result group share per share
5.14
4.31
6.60
Comprehensive income group share (€ 1,000)
42,062
11,183
21,321
Comprehensive income group share per share
8.52
2.26
4.32
(1) The net current result consists of the net result excluding the portfolio result and the changes in fair value of the inefficient hedges.
- Consolidated results period 01/01/15-30/09/15
For Leasinvest Real Estate the 3rdquarter of 2015 is in line with the outlook.
The rental income is approximately identical to the same period of last year and amounts to € 37,600 thousand at the end of September 2015, in comparison with € 37,607 thousand end-September 2014. At constant portfolio the rental income decreases by 3.4 % or € 1,286 thousand in comparison with the same period last year (excl. rental rebates). This decrease is explained by the temporary vacancy in the building Monnet under renovation and the office building Square de Meeus that will be entirely redeveloped.
The average duration of the leases has increased to 5.19 years in comparison with 5.08 years end-December 2014.
|
distributed by
|
