Retail Estates : Annual Financial Report 2020-2021

ANNUAL REPORT

2020

2021

'20-'21IN BRIEF

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GEOGRAPHICAL DISTRIBUTION	TYPE OF BUILDING	COMMERCIAL ACTIVITIES OF TENANTS
32.82%	0.76%	6.25% Other
Other

GEOGRAPHICAL SPREAD CLUSTERS

EXPANSIONS IN

THE NETHERLANDS 2020-2021

		The Netherlands				2.08% Horeca
29.77%
				12.17%
Wallonia						1.39% Leisure
					Individual
					peripheral retail
						properties
								15.58%
					11.24%	Commodities
					+ Food
						Retail clusters
	75.82%
					57.11%
	37.41%	Retail parks				17.59%
						Home
		Flanders					Fashion	improvement

97.07%

STABLE OCCUPANCY RATE

The current outlet renting	Friesland
market in the suburban
areas shows great stability
with respect to both
investors and lessees.	Noord-Holland

1

Groningen

2

Drenthe

Retailpark Den Bosch Investment EUR 68,70 million 29 retail units

50.000m²

Retailpark Maastricht Investment EUR 10 million 5 retail units

7.850m²

RETAIL PROPERTIES		NUMBER OF EMPLOYEES
		992 RETAIL PROPERTIES
		The real estate portfolio of
		Retail Estates nv consists
		of retail properties located	13	23
		outside the largest cities of
		Belgium and
741	251	the Netherlands
Retail properties	Retail properties in
in Belgium	The Netherlands

	Flevoland
Utrecht	Gelderland
			3
Zuid-Holland
	1
Noord-Brabant
Zeeland

Overijssel	3	Winkelunit Duiven

Investment EUR 4,50 million 3.000m²

EXPANSIONS IN BELGIUM (OWN DEVELOPMENT):

4 Retailpark Hognoul (Luik) Investment EUR 10,21 million 4 retail units

5.672m²

36

employees

GROWTH PORTFOLIO RETAIL ESTATES NV BETWEEN 1998 AND 2021

Area m2

Fair value (in thousands EUR)

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10

'11

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

Antwerpen			Limburg
Oost-Vlaanderen
West-Vlaanderen	Limburg	2
Vlaams-Brabant
Brussel		4
Waals-Brabant
Henegouwen		Luik

5

Namen

Luxemburg

5

"Big-Box" Retail unit Jambes (Namen) Investment EUR 17,95 million 15.905m²

1 153 448 m2

RETAIL AREA

Retail Estates invests in acquisitions, investments in project developments and investments in the optimisation of its real estate portfolio.

1 717 245 €

FAIR VALUE

Retail Estates nv has concentrated on continuously improving the quality of its properties and

the expansion of its real estate portfolio.

AWARDS

Retail Estates was again included in the EPRA annual report Survey and received a gold award.

With respect to the 2019-2020 annual report, Retail Estates was awarded the "most improved trophy" for its sustainability report by EPRA and also receive the sBPR label "bronze".

4| RETAIL ESTATES	| 5
ANNUAL REPORT 2020 - 2021

CONTENTS

1	REMARKABLE REAL ESTATE FACTS	6
2	LETTER TO THE SHAREHOLDERS	14
3	MANAGEMENT REPORT	18
4	RETAIL ESTATES ON THE STOCK EXCHANGE	104
5	REAL ESTATE REPORT	112
6	FINANCIAL REPORT	148
7	RISK FACTORS	220
8	PERMANENT DOCUMENT	236
9	MISCELLANEOUS	256

ANNUAL REPORT 2020-2021|

6| RETAIL ESTATES

ANNUAL REPORT 2020 - 2021	FACTS
REMARKABLE
	ESTATEREAL

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REMARKABLE

REAL ESTATE FACTS

EXPANSION BELGIUM AND THE NETHERLANDS

1998-2021 REMARKABLE FACTS

KEY FIGURES 2019-2021

REMARKABLE REAL ESTATE FACTS 2020-2021|

8| RETAIL ESTATES

ANNUAL REPORT 2020 - 2021

1EXPANSION

THE NETHERLANDS

Retail Estates expands in the

Netherlands with an investment of EUR 82,20 million represented by 2 retail units in Den Bosch and Maastricht and a

Friesland

Noord-Holland

Flevoland

Utrecht Gelderland

Zuid-Holland

Noord-Brabant

Zeeland

Limburg

Antwerpen

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Groningen

Drenthe

Overijssel

"Big Box"-unit in Duiven

2EXPANSION

BELGIUM

Retail Estates expands in

Oost-Vlaanderen

West-Vlaanderen

Limburg

Vlaams-Brabant

Brussel

Waals-Brabant

Henegouwen

Luik

Belgium with an investment of EUR 28,16 million represented by a retail unit in Hognoul (Liège) and a "Big Box"-unit in Jambes (Namur)

Namen

Luxemburg

REMARKABLE REAL ESTATE FACTS 2020-2021|