Wereldhave N.V.

press release H1 results 2018 - Seite 3

FINLAND

In Finland, occupancy at June 30, 2018 stood at 96.4%, against 96.0% at the end of the first quarter. Leasing activity was high during the second quarter, with 21 leases signed, nearly all well above ERV. After the strong like-for-like rental growth of 7.6% in H1 2017, like-for-like rental growth for the first half of 2018 was -0.6%, with the indexation at 0.4%. Jysk was signed as a new anchor and all Food and Beverage units next to new cinema are now pre-let, amongst others with Vapiano, Taco Bell and Lucky Bastard.   

To improve the customer journey, a kid's play area was installed in front of the shopping centre at the Talinn square and new wayfinding was implemented throughout the centre. In spite of the development works for the cinema and the food and beverage units, footfall decreased by only 0.5% over the past twelve months.

Investment portfolio

During the first quarter of 2018, Wereldhave sold 89 residential units above the Koperwiek shopping centre in Capelle aan den IJssel in the Netherlands. The transaction was completed for € 12.8m, equal to the book-value. There were no disposals during the second quarter. On July 4, 2018, Wereldhave Belgium sold an office building at the Olieslagerslaan in Vilvoorde for € 2.4m, equal to book-value.

Development pipeline

At June 30, 2018, Wereldhave's committed development portfolio consists of four projects, two in the Netherlands, one in France and one in Finland. The total value of the committed development pipeline is now at € 109m, which will be funded with the anticipated disposals in line with our management agenda (disposals up to € 200m for 2017-2019). 

In the Netherlands, the redevelopment of the Koningshoek shopping centre in Maassluis was completed in the first quarter of 2018. The centre is nearly fully let and footfall increased by 14%. Retailers report that the regional function of the centre is growing strongly and that average sales tickets are rising. Wereldhave is proud to announce that the centre was nominated for the annual Dutch shopping centre council (NRW) redevelopment prize, amongst 4 other contenders.

The committed development pipeline in the Netherlands now consists of two projects. In Capelle aan den IJssel, the development of a parking garage, a new passageway and a food court to the centre is making good progress. The first shops opened their doors in May 2018 and the project is to be completed early 2019.