Highlights
- A resilient first quarter of 2021, despite the challenging circumstances
- Occupancy rate of portfolio remains high at 95.2% as at 31 March 2021
- Relatively high collection rate of 84.1% in Q1 2021 (87% adjusted for waivers), due to tailored arrangements with tenants
- 25 new leases and lease renewals signed in Q1 2021, with 2.8% rent decrease
- Non-strategic assets in Spain and France sold at book value
- Due to continuing uncertainty resulting from the COVID-19 pandemic and the government measures to control it, Vastned does not issue any outlook for the direct result for 2021 at this time
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VastNed Retail NV published this content on 05 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2021 05:04:01 UTC.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.
VASTNED RETAIL N.V. 
