Dutch listed retail specialist Vastned booked a negative indirect investment of EUR 44 mln in the first six months of 2012 following a devaluation of its Spanish shopping entres and retail parks. The direct investment result fell 6% over the period to EUR 31.6 mln.
Dutch listed retail specialist Vastned booked a negative indirect investment of EUR 44 mln in the first six months of 2012 following a devaluation of its Spanish shopping entres and retail parks. The direct investment result fell 6% over the period to EUR 31.6 mln.
The high street shop portfolio turned in a better performance than the shopping centre and retail park assets, with the total value rising 1.5%. Average occupancy rates were stable at 95.3%. As at 30 June 2012, 52% of the property portfolio consisted of high street shops following the acquisition of properties in Bordeaux and various
Dutch cities.
The positive results from the high street investments vindicate the company´s strategic choice, CEO Taco de Groot, said in a press statement. ‘Over the past six months we have worked hard to further improve the profile of our property portfolio by increasing the share of high street shops in big cities in our portfolio and further improving the quality of that share.’
De Groot aims to increase the share of high street investments to 65% ‘as soon as possible’.
