ADDITIONAL INFORMATION FY 2023
March 11, 2024
DISCLAIMER
Cautionary note regarding forward-looking statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and
unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ
materially from those in such statements due to, without limitation, general economic conditions, including in particular economic conditions in the alstria's core business and core markets, general competitive
factors, the impact of acquisitions, including related integration issues, and reorganization measures. Furthermore, the development of financial markets, interest rate levels, currency exchange rates, as well as
national and international changes in laws and regulations, in particular regarding tax matters, can have a corresponding impact. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
No duty to update
The company assumes no obligation to update any information contained herein.
9M 2023 - Additional information | alstria office REIT-AG | 2 |
PORTFOLIO BY REGIONS
CITY | ASSETS | LETTABLE AREA | OCCUPANCY | CONTRACTED RENT | Market Value | WALT | |||
SQM | |||||||||
# | '000S | % | EUR M | EUR PSM* | % TOTAL | EUR M | EUR PSM | YEARS | |
Berlin | 12 | 98 | 91% | 14 | 16.4 | 7% | 366 | 3,724 | 2.8 |
Dusseldorf | 31 | 424 | 84% | 60 | 18.1 | 30% | 1,039 | 2,451 | 4.0 |
Frankfurt | 22 | 288 | 72% | 43 | 20.0 | 22% | 897 | 3,114 | 8.0 |
Hamburg | 33 | 375 | 96% | 62 | 17.3 | 31% | 1,314 | 3,504 | 5.9 |
Stuttgart | 8 | 209 | 62% | 20 | 16.3 | 10% | 373 | 1,787 | 3.0 |
Total | 106 | 1,394 | 82% | 200 | 17.9 | 100% | 3,989 | 2,860 | 5.3 |
Stabilized assets | 88 | 1,069 | 92% | 171 | 18.0 | 86% | 3,288 | 3,077 | 5.5 |
Development assets | 18 | 325 | 48% | 28 | 17.2 | 14% | 701 | 2,153 | 3.8 |
* Contracted rent/let office sqm |
DARWINSTR. 14-18 , BERLIN | AM WEHRHAHN 30, DÜSSELDORF | |
FY 2023 - Additional information | alstria office REIT-AG | 3 |
VACANCY
SQM | Vacancy | |
Physical vacancy | '000S | rate (%) |
Total lettable area - Dec. 31, 2022 | 1,398 | |
+ Acquired space | 0 | |
- Disposed space | -5 | |
+/- Othjer adustments | 1 | |
Total lettable area - Dec. 31, 2023 | 1,394 | |
o/w Investment portfolio | 1,069 | |
o/w Development portfolio | 325 | |
Vacancy - Dec. 31, 2022 | 209 | 15% |
+ Acquired vacancy | 0 | |
- Disposed vacancy | -3 | |
+ Expiries and breaks | 181 | |
- Renewals | -110 | |
- New leases | -23 | |
= Vacancy - Dec. 31, 2023 | 253 | 18% |
o/w Vacancy Investment portfolio | 85 | 8% |
o/w Vacancy Development portfolio | 168 | 52% |
Dec. 31, | Dec. 31, | |
EPRA vacancy1 | 2023 | 2022 |
Estimated rental value (ERV) (EUR m) | 215 | 177 |
ERV of vacant space (EUR m) | 17 | 13 |
Vacancy rate (%) | 8.0% | 7.2% |
1 Excl. refurbishment assets | GEORG-GLOCK-STR. 19, DÜSSELDORF |
FY 2023 - Additional information | alstria office REIT-AG | 4 |
OFFICE LEASES
NET RENT | NEW NET | LEASE | OLD NET | |||||
Address | CITY | LET OFFICE AREA | LEASE START | P.A. | RENT/SQM | LENGTH | RENT FREE | RENT/SQM |
SQM | % OF LEASE | |||||||
'000S | EUR K | EUR | YEARS | LENGTH | EUR | |||
New leases > 1,500 SQM | ||||||||
Epplestr. 225 | Stuttgart | 1,600 | Jun. 1, 2023 | 296 | 15.2 | 1 | - | 12.4 |
Bamler Str. 1-5 | Essen | 2,000 | Oct. 1, 2023 | 337 | 14.2 | 2 | - | 9.7 |
New leases < 1,500 SQM | 14,400 | 3,505 | - | - | - | - | ||
Total new leases* | 18,000 | 4,138 | - | - | - | - | ||
Renewals > 5,000 SQM | ||||||||
Eichwiesening 1-1/1 | Stuttgart | 6,200 | 900 | 12.0 | 8 | - | 12.0 | |
Taunusstraße 45-47 | Frankfurt | 5,400 | 1,016 | 15.6 | 3 | 5.0% | 15.4 | |
Deutsche-Telekom-Allee 9 | Darmstadt | 10,800 | 2,029 | 15.5 | 7 | 14.6 | ||
Steinstraße 10 | Hamburg | 22,200 | 3,995 | 13.6 | 10 | 13.2 | ||
Buxtehuder Straße 9, 9a, 11, 11a | Hamburg | 6,000 | 811 | 11.3 | 19 | 9.4 | ||
Renewals/options < 5,000 SQM | 38,200 | 8,049 | - | - | - | - | ||
Total renewals + Options* | 88,800 | 16,800 |
* Let area in the table represents the office space, total let area is 23,400 sqm (new leases) and 110,000 sqm (extensions + options)
FY 2023 - Additional information | alstria office REIT-AG | 5 |
REFURBISHMENT PROJECTS*
MARKET VALUE | TOTAL LETTABLE | TOTAL | CAPEX OFFICE UNDERWRITING | LEASE | YIELD ON | PRE-LET | |||||
ASSET | CITY | BEFORE REFURB | OFFICE SPACE | CAPEX | SPACE | ANNUAL RENT | SIGNED | COST | QUOTA | ||
EUR M | SQM | EUR M | EUR PER SQM | EUR M | EUR M | ||||||
Construction phase | |||||||||||
Gustav-Nachtigal-Str. 4 | Wiesbaden | 1.0 | 779 | 5.8 | 7,450 | 0.4 | 0.4 | 6.2% | 100% | ||
Carl-Reiss-Platz 1 | Mannheim | 8.2 | 8,020 | 22.2 | 2,750 | 1.7 | - | 5.6% | 0% | ||
Carl-Reiss-Platz 2,3,4 | Mannheim | 5.6 | 4,447 | 24.1 | 5,400 | 1.0 | - | 3.3% | 0% | ||
Gartenstr. 2 | Düsseldorf | 15.6 | 4,966 | 7.3 | 1,450 | 1.5 | 0.3 | 6.6% | 21% | ||
Handwerkstr. 4 | Stuttgart | 7.4 | 6,169 | 11.6 | 1,900 | 1.2 | 0.2 | 6.3% | 15% | ||
Adlersstr. 63 | Düsseldorf | 7.9 | 2,707 | 8.0 | 2,950 | 0.8 | - | 5.1% | 0% | ||
Corneliusstr. 36 | Düsseldorf | 7.3 | 3,137 | 5.2 | 1,650 | 0.7 | 0.2 | 5.4% | 30% | ||
Uhlandstr. 83 | Berlin | 46.8 | 11,194 | 29.3 | 2,600 | 3.9 | - | 5.2% | 0% | ||
Friedrich-Scholl-Platz 1 (Part A) | Karlsruhe | 9.6 | 5,798 | 22.0 | 3,800 | 1.3 | - | 4.0% | 0% | ||
Friedrich-List-Str. 20 | Essen | 19.2 | 8,574 | 12.0 | 1,400 | 1.8 | 0.4 | 5.7% | 20% | ||
Platz der Einheit 1 | Frankfurt | 193.3 | 28,685 | 46.7 | 1,650 | 10.0 | - | 4.2% | 0% | ||
Epplestr. 225 (2) | Stuttgart | 23.0 | 11,522 | 21.3 | 1,850 | 2.8 | 0.4 | 6.3% | 17% | ||
Epplestr. 225 (6) | Stuttgart | 23.0 | 11,475 | 22.3 | 1,950 | 2.8 | - | 6.2% | 0% | ||
Epplestr. 225 (10) | Stuttgart | 17.8 | 9,859 | 20.6 | 2,100 | 2.4 | - | 6.2% | 0% | ||
Epplestr. 225 (20,21) | Stuttgart | 7.3 | 4,000 | 18.0 | 4,500 | 1.0 | - | 4.1% | 0% | ||
Total construction phase | 393.0 | 121,332 | 276.4 | 2,280 | 33.3 | 1.9 | 5.0% | 6% | |||
Planning phase | |||||||||||
Epplestr. 225 (1) | Stuttgart | 9.9 | 4,823 | 9.3 | 1,900 | 1.3 | - | 6.7% | 0% | ||
Hanauer Landstr. 161-173 | Frankfurt | 31.0 | 14,116 | 35.3 | 2,500 | 3.3 | - | 4.0% | 0% | ||
Maxstr. 3a | Berlin | 11.6 | 4,441 | 14.0 | 3,150 | 1.3 | - | 4.0% | 0% | ||
Ivo-Beucker-Str. 43 | Düsseldorf | 16.0 | 7,272 | 18.7 | 2,550 | 1.6 | - | 4.5% | 0% | ||
Lehrter Str. 17 | Berlin | 12.0 | 2,255 | 3.6 | 1,600 | 0.7 | - | 4.8% | 0% | ||
Total planning phase | 80.5 | 32,907 | 80.9 | 2,460 | 8.2 | - | 5.1% | 0% | |||
PLATZ DER EINHEIT 1, FRANKFURT | |||||||||||
Total | 473.5 | 154,239 | 357.3 | 2,300 | 41.5 | 1.9 | 5.0% | 5% | |||
* As per December31, 2023
FY 2023 - Additional information | alstria office REIT-AG | 6 |
P&L AND FFO
STEINSTR. 10, HAMBURG
FY 2023 - Additional information | alstria office REIT-AG | 7 |
BALANCE SHEET
Dec. 31, 2023 | Dec. 31, 2022 | |
EUR M | EUR M | |
Investment properties | 3,971 | 4,607 |
Carrying amount of owner occupied properties | 17 | 16 |
Other assets | 3 | 3 |
Assets held for sale | 0 | 27 |
Carrying amount of immovable assets | 3,991 | 4,652 |
Adjustments to fair value of owner occupied properties | 9 | 9 |
Fair value of immovable assets | 4,000 | 4,662 |
Cash on balance sheet | 116 | 365 |
IFRS equity | 1,618 | 2,571 |
Interest bearing debt | 2,450 | 2,403 |
G-REIT equity ratio | 43.0% | 55.3% |
Corporate Net LTV | 58.3% | 43.7% |
ELISABETHSTR. 5-11, DÜSSELDORF
FY 2023 - Additional information | alstria office REIT-AG | 8 |
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Alstria Office REIT-AG published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2024 16:23:03 UTC.