Vastned Retail Belgium: Annual results 2016

Continued execution of the strategy to ensure that the share of premium city high street shops in the real estate portfolio exceeds 75% in the long term.

As at 31 December 2016, 59% of the real estate portfolio consists of premium city high street shops, 16% of high street shops and 25% of non-high street shops (retail parks and retail warehouses).

Prominent redevelopment and thorough restoration of a premium city high street shop leased to AS Adventure of 3.000 m² on Zonnestraat in Ghent completed.

Realisation of 14 rental transactions representing approximately 6% of the total annual rental income, resulting in average rental growth of 5%.

Occupancy rate as at 31 December 2016: 98% (98% as at 31 December 2015).

Increase by approximately 3% in the fair value of the existing real estate portfolio in financial year 2016, mainly as a result of the stronger yields of the premium city high street shops and new lettings.

Gross dividend amounts to € 2,45 per share for financial year 2016 (€ 2,51 for financial year 2015). Gross dividend yield of 4,6% based on the closing share price on 31 December 2016, i.e. € 53,85.

Decrease of the operating distributable result in financial year 2016 to € 2,45 per share (€ 2,51 for financial year 2015), mainly due to the divestment at the end of 2015 of 14 non-strategic properties.

Limited debt ratio of 27% as at 31 December 2016.

Vastned Retail Belgium has dedicated management in place.

Full press release:

Press release

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Source: Vastned Retail Belgium via Globenewswire

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