Operations
The gradual phasing out of Covid-19 measures significantly increased visitor numbers in the first quarter of 2022. In contrast, the
world is dealing with the consequences of the terrible events taking place in Ukraine and the international geopolitical
developments resulting from it. This can affect consumer purchasing behavior and, as a result, our tenants’ turnover.
Rising inflation affects us in two ways. On the one hand, all our leases undergo annual indexation, which increases the rental
income. On the other hand, we can be faced with higher construction and material costs. These costs are nevertheless fixed for
our ongoing transformations, and all further commitments will be reviewed carefully.
Netherlands
In the Netherlands, 33 new leases were signed, which were on average above market rent levels. One such example was Basic-Fit, which signed for a new gym at Cityplaza Nieuwegein.
Our first Dutch Full Service Center, Presikhaaf in Arnhem, is attracting more visitors than in pre-Covid 19 year 2019, underlining
the success of the FSC concept.
We opened two new locations for our The Point service desks: in Kronenburg and in Presikhaaf, Arnhem. These new locations
perform a unique social function, as they act as a service point with a wide variety of services for the local people in their
neighborhood. In Arnhem, local youth initiatives organize staffing at The Point, thereby helping young people to develop by
providing them with a range of opportunities to improve their life prospects.
The ‘Be Your Selfie Tour’ was a big marketing success in Cityplaza Nieuwegein. We designed 13 unique rooms, each with a
different theme, where visitors can take the perfect picture or video to share on social media.
Belgium
During the first quarter of 2022, rental activities within the Belgian portfolio continued in line with the 2021 market dynamic, with
the signing of 23 shopping center leases and lease renewals at conditions that are on average well above market rents.
Newcomers to the portfolio include Intersport, Ken Shoe Fashion, Chick & Cheez, O'Tacos and Hairdis.
The signing of Intersport also means that the Retail Park in Tournai is again fully let. With leases of Chick & Cheez and O'Tacos in
Shopping 1 in Genk, Wereldhave launched the ‘Food.Break’ concept.
Furthermore, during the quarter, Wereldhave Belgium promoted its ‘The Sage’ concept in its office parks, therefore succeeding in
letting and reletting a total of 3,900 m² in Antwerp.
France
In France, the number of visitors to our shopping center in Bordeaux initially lagged until mid-February. This was primarily a result
of working from home guidelines and ongoing developments that impacted the business district surrounding Mériadeck.
Five leasing contracts were signed, one of which is for a city-center Ikea store for Mériadeck in Bordeaux, the first Ikea store in
our portfolio.
The new organizational set-up for our two remaining French centers got up to speed and achieved, among other things, a rent
collection rate of 99%
Strategic developments
Full Service Center Transformations
Under our LifeCentral strategy, we are transforming our assets into Full Service Centers. Two of our assets were transformed to
FSCs during 2021: Les Bastions in Tournai and Presikhaaf in Arnhem. Our aim is to deliver the next three FSCs before the end of
2022, City-Center Tilburg in Tilburg, Sterrenburg in Dordrecht, and Ring Kortrijk in Courtrai.
In Q1 we commenced the transformation of Vier Meren in Hoofddorp with the delivery of the first unit with the new facade design.
The next step will be the refurbishment of the entrance of the center.
The pre-letting for the transformation projects is progressing, with a focus on food & beverage, leisure and fitness.
The first phase of the transformation of Sterrenburg in Dordrecht was completed with the opening of a Jumbo Foodmarkt in
February. The second phase has already begun, and involves the complete refurbishment of the center, including the ‘every.deli’
concept.
Outlook
As a result of strong pre-letting for our FSCs and the higher than anticipated indexation, we have raised the outlook for the FY22
direct result per share (DRPS) to € 1.55 – 1.65 (previously € 1.50 – 1.60).