Vastned Belgium NV

Business and Financial Review • Dec 24, 2014

Antwerp, 24 December 2014

Vastned Retail Belgium divests 14 non-strategic properties for a total sales price of approximately € 35,6 million

Retail Belgium

Regulated real estate company Vastned Retail Belgium has reached an agreement for the sale of 14 non-strategic properties for a total sales price of approximately € 35,6 million.

This divestment concerns Julianus Shopping Center in Tongres and retail properties in Vilvorde, Hoboken, Bree, Chênée, Flémalle, Genk, La Louvière, Malmédy, Mons, Sint-Pieters-Leeuw, Waterloo, Anvers Abdijstraat and Westerlo. It regards retail warehouses and inner-city shops on secondary locations.

This transaction comprises a total commercial space of approximately 33.000 m² and a gross annual rental income of about € 3,2 million. The average occupancy rate of the sold portfolio amounts to 92,3 %.

The agreed sales price is about 1 % lower than the fair value on 31 December 2013. The net sales price (after deduction of the sales costs and the VAT revision) lies approximately 5,5 % lower than the fair value on 31 December 2013.

Vastned Retail Belgium was assisted by Cushman & Wakefield for this transaction.

Jean-Paul Sols, chief executive officer:

"This transaction fits entirely into our strategy which focuses on premium high street shops in innercities. Following this sale the occupancy rate of the portfolio will increase to 97,90 % and the share of inner-city shops will increase to approximately 68 % on 31 December 2014."

Press Release Regulated information embargo till 24.12.2014, 8.00 am

Note to the editors: for more information, please contact: VASTNED RETAIL BELGIUM SA, public regulated real estate company under Belgian law, Jean-Paul Sols - CEO, T + 32 3 287 67 87, www.vastned.be