Brief: VGP Sees Income Generating Rent Roll To Grow 7% In 2023

VGP NV

03/11/2022 06:11

Nov 3 (Reuters) - VGP NV  VGP1.BR :
    * VGP TRADING UPDATE: SOLID GROWTH, RECORD DELIVERIES AND
OCCUPANCY RATE BOOST RECURRING RENTAL INCOME
    * EUR 53.1 MILLION OF NEW AND RENEWED LEASES SIGNED
YEAR-TO-DATE
    * PROPERTY PORTFOLIO VIRTUALLY FULLY LET WITH OCCUPANCY AT
99.6%
AS OF 31 OCTOBER 2022
    * BASED ON CURRENT INFLATION, WE EXPECT OUR ALREADY INCOME
GENERATING RENT ROLL TO GROW BY 7% (EUR 17 MILLION²) THROUGH
INDEXATION ALONE IN 2023
    * DUE TO OVERALL MARKET CIRCUMSTANCES VGP ANTICIPATES MORE,
PREDOMINANTLY BROWNFIELD, OPPORTUNITIES TO BECOME AVAILABLE
DURING NEXT 12 MONTHS
    * COMBINED WITH EXISTING CASH ON BALANCE SHEET, UNDRAWN RCFS
AND
PLANNED MUNICH JOINT VENTURE CLOSING WE HAVE ENOUGH MEANS
AVAILABLE TO COVER OUR COMMITMENTS WELL BEYOND 2023
    * NEXT CLOSING EXPECTED IN Q1 2023 WITH FIRST JOINT VENTURE
FOR A
TOTAL GROSS ASSET VALUE OF MORE THAN EUR 100 MILLION

Source text for Eikon:  ID:nGNE4PDjfX 
Further company coverage:  VGP1.BR 
 (Gdansk Newsroom)
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