Basic Profile & Key Statistics
- Main Sector(s): Office, Industrial & Logistics
- Country(s) with Assets: Netherlands, Italy, France, Poland, Germany, Finland, Denmark, Slovakia, Czechia & England
- of Properties (exclude development/associate/fund): 115
Performance Highlight
Gross revenue, NPI and distributable income increased yoy mainly due to contribution from properties acquired in 2021 and higher rental income.
Rental Reversion
Rental reversion is at 4.2% for the overall portfolio.
Acquisition
In 1Q 2022, CEREIT acquired 2 properties in Italy and 1 in Germany.
Development
Development for building extension of Lovosice ONE Industrial Park I has commenced and is expected to be completed by 4Q 2023. For the Via Nervesa 21, strip-out works are almost completed.
Sensitivity to Interest Rate
CEREIT debt is 100% hedged until Oct 2022 and would become 77% hedged after that. Should the 3-month Euribor increase to 1% (1.45% increase from the current negative 0.45%), then the impact would be 2 million, around 2.1% of FY21 distributable income....
