background

Home - Portfolio

Additional Portfolio Information

Income Distribution

Rental income reached 35,734 thousand Euros in 2015 (versus 8,606 thousand Euros in the same period of the year before). The relative weight of rental income by line of business at 31 December 2015 is as follows:

Rental Income by asset class (%)

Income by Shopping Centre (%)

Income by Logistics Warehouse (%)

Income by Office Building (%)

(*)We have not included Like for Like (LfL) rental growth due to the lack of comparability, as a large number of the properties did not form part of the portfolio for the full financial year in 2014 and 2015.

Top Tenants

Below are the tenants, broken down by business unit, that have generated the highest amounts of rent during 2015:

Top Tenants. Shopping Centres (%)

  • 38MM visitors in Shopping Centres

  • 103 New contracts since acquisitions

  • 2015 Total Sales: +7.5% vs 2014

  • 2015 Total Footfall: +2.2 % vs 2014

Top tenants. Logistics (%)

  • Robust and prestigious tenants

  • Improvement implementation plans with approved Capex estimates

Top Tenants. Offices (%)

  • INECO has extended its contract until 2021

  • Implementation of improvements and building refurbishments

Lease Expiration

The proactive management carried out by Lar España allows us to have a solvent and diversified tenant base. Renovations have been carried out at the properties occupied by our key tenants, thereby prolonging the lease terms, which allows us to have a significant level of guaranteed minimum rents.

Annual Lease Expiration. Shopping Centres

Annual Lease Expiration. Logistics

Annual Lease Expiration. Offices

Capex

Over the course of 2015, various refurbishment and improvement works were carried out at the properties, which have helped to considerably increase their value. A Capex plan has also been forecast for 2016

The Capex figure for 2015 amounted to 3,534 thousand Euros. The breakdown by business unit is as follows:

2015 Invested Capex by asset class (%)

  • Shopping Centres: 1,844 thousand Euros

  • Offices: 1,677 thousand Euros

  • Logistics: 13 thousand Euros