VastNed Retail NV Announces Sales Results for the First Quarter of 2017; Provides Earnings Guidance for the Year 2017
May 09, 2017
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VastNed Retail NV announced sales results for the first quarter of 2017. For the quarter, the realises 15% rent increase on leases it concluded for core city assets. Occupancy rate of core city assets up to 99.4% as at 31 March 2017.
The company provided earnings guidance for the year 2017. For the year, direct result in 2017 of between 2.10 and 2.20 per share.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.