Trading update first quarter 2013
Vastned on schedule with execution strategy through divestments
Key points Q1 2013 (in brackets: Q4 2012)
- Occupancy rate 31 March 2013: 94.3% (95.0%), high street shops 97.0% (97.4%)
- Leasing activity high street shops yielded 28.3% rent increase on these contracts
- Divestments of non-strategic property on schedule with disposal of Val Thoiry, Centre Marine in Dunkirk and retail warehouses in France
- Ratio of high street shops increased to 59% (55%); in France 90% (65%)
Vastned is a European listed (NYSE Euronext Amsterdam) retail property fund focusing on venues for premium shopping. It invests in selected geographical markets in Europe and Turkey concentrating on the best retail property in the most popular shopping streets in the bigger cities (high streets). Vastned also owns attractive shopping centres and retail warehouses. Its tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 2.0 million.