2014 at a glance

Key financial information

All amounts in € thousands unless otherwise stated

Portfolio highlights

  • Dividend return of 5.7%
  • Relatively high occupancy rate of 89.9%; market average 84%
  • Acquisition and redevelopment of Valina office building in Amsterdam city centre
  • Acquisition Beurs-WTC Rotterdam and Citroën buildings in Amsterdam
  • Total of new and renewed leases of 22,507 m2 and an annual rent of € 4.1 million
  • Like-for-like rent increase of 0.4%
  • Rent in arrears of 0.9%
  • Secured pipeline of € 5.4 million
  • 85.5% green labels (A, B or C label)
  • GRESB 'Green Star' status two years ahead of schedule
Portfolio at a glance

Performance per share

Performance per share20142013
Dividends (in €)129.43136.91
Net earnings (in €)3.01(6.29)
Net asset value IFRS (in €, at year-end)2,113.012,341.19
Net asset value INREV (in €, at year-end)2,140.472,341.69

Statement of financial position

Balance sheet20142013
Total assets579,982477,308
Total shareholders’ equity565,113469,201
Total debt from credit institutions- -


Net result612(1,260)
Total Expense Ratio (TER)0.54%0.58%
Real Estate Expense Ratio (REER)2.25%1.70%

Fund return

* Since inception (5-year average)

Portfolio figures

Portfolio figures20142013
Investment property553,353445,979
Investment property under construction6,201-
Gross initial yield8.2%7.9%
Total number of properties3025
Average monthly rent per square metre (in €)169180
Financial occupancy rate (average)89.9%90.4%
Sustainability (A, B or C label)85.5%79.9%
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