VASTNED BELGIUM Firm establishment in the premium city high street shops segment remains the objective.
As at 30 June 2016, 58% of the real estate portfolio consisted of premium city high street shops, 17% of high street shops and 25% of non-high street shops (retail parks and retail warehouses).
Realisation of 7 rental transactions, of which 2 in premium city high street shops, representing approx. 3% of the total annual rental income, resulting in an average increase in rent of 9%.
Work on prominent redevelopment and thorough restoration of a premium city high street shop of 3.000 m² on Zonnestraat in Ghent on schedule.
Occupancy rate as at 30 June 2016: 99% (98% as at 31 December 2015).
Increase in the fair value of the existing real estate portfolio by € 2 million1 in the first semester of 2016, mainly in the premium city high street shops.
The operating distributable result in the first semester of 2016 is € 1,18 per share (€ 1,21 for the first semester of 2015), a slight decrease primarily due to the divestment of 14 non-strategic retail properties in 2015.
Limited debt ratio of 30% as at 30 June 2016.
Expected gross dividend for 2016 between € 2,40 and € 2,50 per share.
Vastned Retail Belgium to get dedicated management.
Full press release:
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Source: Vastned Retail Belgium via Globenewswire
