Vastned Retail Belgium : Interim statement from the board of directors for the first quarter of 2016
Firm establishment in the premium city high street shops' segment remains the objective.
As at 31 March 2016, 58% of the real estate portfolio consists 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 3 rental transactions, including 2 in premium city high street shops, representing about 2% of the total annual rental income, resulting in an average rent increase of 7%.
Occupancy rate as at 31 March 2016: 98% (98% as at 31 December 2015).
Increase in the fair value of the existing real estate portfolio by € 1 million in the first quarter of 2016.
Decrease of the operating distributable result in the first quarter of 2016 to € 0,56 per share (€ 0,64 for the first quarter of 2015) mainly due to the divestment in 2015 of 14 non-strategic retail properties.
Limited debt ratio of 27% as at 31 March 2016.
Vastned Retail Belgium to get dedicated management.
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Source: Vastned Retail Belgium via GlobeNewswire
