Office
Corio has a small office portfolio in France with a total value of € 219.3 million (2008: € 311.1 million). The value decreased as a result of the sales of Toulatria in Toulouse, BCEOM Montgolfier in Guyancourt and Frères Peugeot in Rueil-Malmaison (total: € 59.3 million) and a negative revaluation of € 33.4 million.
The net rental income of the French offices portfolio fell to € 21.3 million in 2009 from € 22.4 million in 2008, as a result of the sales of the above mentioned properties. The like-for-like net rental income rose 4.8%, which mainly reflects indexation (8.8% cost of construction index) and the letting of vacant space to new tenants resulting in an average financial EPRA occupancy rate of 99.6% in 2009 (2008: 98.9%).
Source: Annual Report 2009, Chapter Review of Operations, page 58 (PDF, 6.362 kB)
Add to My report