Industrial
Corio also has a small industrial portfolio in France with a total value of € 51 million (2008: € 60.6 million). The value of the portfolio decreased compared to 2008 as a result of negative revaluations of € 5.8 million and the sales of the Compans warehouse in Toulouse for € 3.8 million. The like-for-like net rental income fell 29.7%, which is mainly the result of reletting the FNAC Massy warehouse on a new 9-year lease at a lower rent level, and the vacancy of Paris Sud Bretigny. Because of this the EPRA occupancy rate fell to 84.6% from 99.1% in 2008.
Source: Annual Report 2009, Chapter Review of Operations, page 58 (PDF, 6.362 kB)
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