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Inventory of buildings excluding investment properties
Property
Superstructure
(in m²)
Contractual rent
1
(x €1,000)
Occupancy
rate
Tenant
Financial assets under finance leases
COURTHOUSE - Antwerp
72,131
1,377
100%
Buildings Agency
FIRE STATION - Antwerp
23,585
181
100%
City of Antwerp
POLICE STATION - Hekla
4,805
N/A
100%
Federal Police
DEPAGE STUDENT HOUSING RESIDENCE –
Brussels
3,196
81
100% Université Libre de Bruxelles
(ULB – Brussels University)
NELSON MANDELA STUDENT HOUSING
RESIDENCE – Brussels
8,088
1,213
100% Université Libre de Bruxelles
(ULB – Brussels University)
PRISON - Leuze-en-Hainaut
28,316
2,818
100%
Buildings Agency
Assets held in joint ventures
EHPAD Les Musiciens - France
4,264
1,337
100%
ORPEA
Inventory of property assets
Segment
Acquisition price
(x €1,000,000)
Insured value
2
(x €1,000,000)
Fair value
(x €1,000,000)
Gross rental yield
(in %)
Offices
1,609.0
1,468.0
1,312.0
7.61%
Healthcare real estate
1,061.3
68.3
1,289.1
6.30%
Property of distribution networks
534.2
14.0
533.5
6.59%
Others
56.1
21.4
64.6
6.68%
TOTAL
3,260.6
1,571.7
3,199.2
6.88%
Overview of the consolidated property portfolio
The assumptions used for the estimation of the rental value are based on letting transactions observed on the market taking into account
the location and the type of asset.
Property
Address
Year of
construction
(last
renovation)
Superstruture
(in m²)
Contractual rents
(x €1,000)
2014
Occupancy
rate
3
Estimated
Rental Value
(ERV)
4
(x €1,000)
SOUVERAIN/VORST
23-25
23-25 Boulevard du Souverain/
Vorstlaan – 1170 Brussels
S25: 1970
S23: 1987
56,891
11,539
100%
11,521
EGMONT I
36 Rue du Pépin/Kernstraat
1000 Brussels
1997
36,616
2,772
5
100%
2,772
BOURGET 42
42 Avenue du Bourgetlaan
1130 Brussels
2001
25,756
4,483
86%
4,003
LIVINGSTONE II
1-3 Rue Philippe Le Bon/Filips
De Goedestraat
1000 Brussels
1996 (2014)
15,920
2,715
100%
2,756
GEORGIN 2
2 Avenue Jacques Georginlaan
1030 Brussels
2007
17,439
3,105
100%
3,035
TERVUREN 270-272
270-272 Avenue de
Tervurenlaan – 1150 Brussels
1976 (2013)
19,579
1,831
51%
3,869
ALBERT I
er
4 -
CHARLEROI
4 Rue Albert Ier
6000 Charleroi
1967 (2005)
19,189
2,713
100%
2,718
SERENITAS
2-6 Avenue Van
Nieuwenhuyselaan
1160 Brussels
1995
19,823
3,591
97%
3,172
SOMBRE/DONKER
56
56 Rue Sombre/Donkerstraat
1200 Brussels
2004 (2012)
7,196
2,464
100%
2,464
DAMIAAN –
TREMELO
39 Pater Damiaanstraat
3120 Tremelo
2003 (2014)
20,274
2,437
100%
2,250
Others
1,541,674
174,415
96%
178,875
TOTAL
1,780,357
212,065
95.19%
217,435
1
Non-assigned part of the rents, which varies between 4% and 100%.
2
Except in the case of empty buildings, this amount does not include the
insurances taken during works, nor those for which the occupants are
contractually responsible (i.e. for nursing homes in Belgium and in France, for the
cafés/restaurants of the Pubstone portfolio and for certain office buildings), nor
those related to finance leases. This amount also excludes the insurances related
to the MAAF buildings (first rank insurance on all the fully owned buildings and
second rank insurances for the buildings in co-ownership), which are covered at
their reconstruction value.
3
The occupancy rate is calculated as the contractual rents divided by the sum of
the rents + the ERV of unlet spaces.
4
The determination of the estimated rental value takes into account market data,
the location of the asset, the quality of the building, the number of beds for
healthcare facilities and, if available, financial data (EBITDAR) from the tenant.
5
Writeback of lease payments sold and discounted.
PROPERTY REPORT /
Consolidated property portfolio
88