Q1 2021 ACTIVITY

ENCOURAGING PERSPECTIVES

April 20th, 2021

SUMMARY

I. Letting activity: positive signals

II. Speeding the prime offices strategy

  1. Ahead of schedule on our lower-carbon path IV. Organisational changes
    V. Key takeaways

2

LETTING ACTIVITY: POSITIVE SIGNALS

Lyon CBD, Silex 2

OFFICE MARKETS: RESILIENCY DESPITE THE LOCK-DOWNS

Take-up

Vacancy rate

Headline rents

Maintained at Q1 2020 levels

In Greater Paris1 (327 000 m²)

-

4%

In Milan2 (70 000 m²) &

~ 0%

Top 7 German cities (653 000 m²)

-

3%

6.7% in Greater Paris

5.3% in Milan

3.5% in Top 7 German cities

Stable rents, on new and renovated assets

Steady upward pressure in Top 7 German cities

Investment

Continuous appetite from investors

+3% median price in Greater Paris vs end-2020

market

1. Excluding Total transaction of circa 130 000 m² in La Défense

4

2. Excluding Saipem major transaction of 41 000 m² in Milan periphery

Sources: Immostat, CBRE, Guthmann; Milan: as of end 2020, excluding hinterland and periphery, to which Covivio is not exposed

64,000 M² SIGNED OR RENEWED IN Q1 2021

22,900 M² SIGNED AND 40,900 M² RENEWED

Addressing Covivio's main occupancy challenges

Paris - Carré Suffren

2,800 m² new lettings; +8% vs previous rent

La Défense - CB21

1,300 m² new lettings; -12% vs previous rent

Hamburg - Zeughaus

3,000 m² of additional surfaces for existing tenant

Lyon - Silex2

1,150 m² of pre-letting

Highlighting the reversionary potential

4,000 m² let at +22% vs previous rent

Milan - Garibaldi

2,060 m² new lettings; +33% vs previous rent

Milan - Amedei

820 m² new letting; +5% vs previous rent

Supporting the growth of our long term partners

9,100 m² pre-let to Onepoint on Bordeaux Jardins de l'Ars

Already tenant in Paris and Bordeaux since 2016

Reaffirmed trust in Covivio

Renewing 33,300 m² with Eiffage

  • Turnkey HQ campus developed for Eiffage
  • State of the art building designed by Wilmotte and Viguier gathering 1,600 employees
  • High class services

Renewal agreement with extended maturity of 10 years firm,

in line with previous rent

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Covivio SA published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 16:01:03 UTC.