Further improvement in operating performance data
In the first half of 2018, the Group once again improved its operating performance. At the end of the period under review, the average contractually agreed rent per square metre per month for the overall portfolio amounted to EUR 5.37, EUR 0.31 higher than the figure for the same period of the previous year of EUR 5.06, which did not include BCP yet as it was acquired in April 2018 only. On a standalone basis, ADLE R would have reported an average rent of EUR 5.25 at the end of the first half of the year. BCP alone achieved a higher average rent of EUR 6.01 in the first half of the year. In the core portfolio, which includes BCP and results from the overall portfolio minus the properties that are to be sold as part of the ongoing portfolio reviews, the average contractually agreed rent per square metre per month amounted to EUR 5.40 at the end of the first half of 2018. This was EUR 0.31 more than one year ago (H1 2017: EUR 5.09 not including BCP).
The occupancy rate for the overall portfolio including BCP came to 90.2 percent at the end of the first half of 2018 against 89.5 percent one year earlier. The occupancy rate in the core portfolio reached 92.3 percent at the reporting date in 2018. This equates to an improvement of 1.6 percentage points compared with one year ago (90.7 percent). Part of the increase is also due to the acquisition of BCP. In its former structure, ADLE R’s occupancy rate came to 92.1 percent and BCP’s was 94.4 percent.