Annual financial report 2013

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Management Report / Data according to the EPRA Principles 58/
EPRA Net Initial Yield (NIY) and EPRA ‘topped-up’ NIY
(x €1,000) 2013
Offices Healthcare real estate Property
of
distribution
networks
Other TOTAL
Belgium France Netherlands
Investment properties in fair value 1,524,811 791,995 418,130 18,120 532,818 61,135 3,347,009
Assets held for sale - - -7,650 - -650 - -8,300
Development projects -77,707 -44,026 - -6,870 - -1,930 -130,533
Properties available for lease 1,447,104 747,969 410,480 11,250 532,168 59,205 3,208,176
Estimated transaction costs resulting from the hypothetical
disposal of investment properties
36,178 19,075 24,697 703 45,695 1,480 127,828
Gross up completed property portfolio valuation 1,483,282 767,044 435,177 11,953 577,863 60,685 3,336,004
Annualised gross rental income 105,216 47,665 27,417 854 38,153 4,285 223,590
Property charges -15,543 -234 -62 -8 -780 -180 -16,807
Annualised net rental income 89,673 47,431 27,355 846 37,373 4,105 206,783
Rent-free periods expiring within 12 months
and other lease incentives
-1,122 - - - - - -1,122
Topped-up net annualised rental income 88,551 47,431 27,355 846 37,373 4,105 205,661
EPRA NIY 6.05% 6.18% 6.29% 7.07% 6.47% 6.76% 6.20%
EPRA ‘TOPPED-UP’ NIY 5.97% 6.18% 6.29% 7.07% 6.47% 6.76% 6.16%
EPRA Vacancy rate
(x €1,000) 2013
Offices Healthcare real estate Property
of
distribution
networks
Other TOTAL
Belgium France Netherlands
Rental space 763,644 403,636 234,298 5,821 423,042 23,026 1,853,467
ERV1 of vacant space 10,450 - 560 - 84 - 11,094
ERV1 of the total portfolio 107,149 44,252 29,007 844 35,472 3,558 220,282
EPRA VACANCY RATE 9.75% 0.00% 1.93% 0.00% 0.24% 0.00% 5.04%
1 ERV = Estimated Rental Value.