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Office Fund

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Key information in 2018

All amounts in € thousands unless otherwise stated

Highlights 2018

  • € 90 million invested, no divestments

  • No new investors in 2018

  • Acquisition of new office development project Central Park, Utrecht

  • Long-term lease renewal of major lease for Centre Court (The Hague) 

  • Total of new and renewed leases for 68,305 m2 with an annual rent of € 14,374,925

  • Cultural Heritage Agency approval of Masterplan for WTC Rotterdam

  • Improved control of redevelopment projects Building 1931 and Building 1962 in Amsterdam

Performance per share

Performance per share

2018

2017

Dividends (in €)

52.98

59.81

Net earnings (in €)

266.98

277.97

Net asset value IFRS (in €, at year-end)

2,506.33

2,295.87

Net asset value INREV (in €, at year-end)

2,511.10

2,306.55

Statement of financial position

Statement of financial position

2018

2017

Total assets

782,645

644,945

Total shareholders’ equity

771,241

631,446

Total debt from credit institutions

-

-

Result

Result

2018

2017

Net result

75,962

71,746

Total Expense Ratio (TER)

0.55%

0.54%

Real Estate Expense Ratio (REER)

2.51%

3.20%

Fund return

PERCENTAGE

Total fund return 2018: 11.5%

Total fund return 2017: 13.1%

Portfolio figures

Portfolio figures

2018

2017

Investment property (in € 1,000)

536,054

468,661

Investment property under construction (in € 1,000)

210,857

127,432

Gross initial yield

6.8%

8.0%

Total number of properties

18

17

Average rent per square metre per year (in €)

177

180

Financial occupancy rate (average)

89.2%

86.3%

Sustainability (A, B or C label)

73.0%

73.1%