Condensed Unaudited Results for FY 31 Dec 2022

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n FOR IMMEDIATE RELEASE\n \n \n 3 March 2023\n \n \n \n Globalworth Real Estate Investments Limited\n \n \n \n \n (\"Globalworth\" or the \"Company\")\n \n \n \n \n Condensed Unaudited Financial Results for the year ended 31 December 2022\n \n \n \n Globalworth, the leading office investor in Central and Eastern Europe, announces the release of its Unaudited Consolidated Statement of Comprehensive Income and Unaudited Consolidated Statement of Financial Position for the year ended 31 December 2022.\n \n \n The Company intends to announce its audited Financial Results for the year ended 31 December 2022 and publish its 2022 Annual Report towards the end of March 2023.\n \n \n \n Key Highlights for the year ended 31 December 2022\n \n \n \n ·\n Total combined portfolio value remained effectively unchanged at €3.2 billion (0.2% higher compared to 31 December 2021).\n \n \n o \n Combined standing commercial properties at year-end were appraised at €2.9 billion. Like-for-like properties marginally lower at €2.8 billion (1.3% decrease compared to 31 December 2021), with new facilities acquired or completed in 2022 adding €75.5 million in standing commercial portfolio value.\n \n \n ·\n Focused development program in select high-quality projects.\n \n \n o \n Romania; delivered 6 new logistics facilities offering 104.4k sqm of GLA, with 3 logistics facilities under development which are expected to have a total GLA of 30.0k sqm.\n \n \n o \n Poland; two mixed-use properties under refurbishment/repositioning.\n \n \n ·\n Acquired the first small business units logistic facility in Romania (Bucharest), with a total area of 7.1k sqm.\n \n \n ·\n Overall standing portfolio footprint net increase of 103.3k sqm (+7.9% compared to 31 December 2021) to 1.4m sqm of GLA in 71 standing properties.\n \n \n ·\n Leasing transactions of 206.9k sqm of commercial space at an average WALL of 4.4 years, despite continued challenging market conditions.\n \n \n ·\n Average standing occupancy of 85.6% (85.9% including tenant options), 2.9% lower compared to 31 December 2021.\n \n \n o \n Addition of 7 properties with an average occupancy of 54.2%, some of which are in the lease-up phase, negatively impacted the overall combined standing occupancy.\n \n \n o \n Like-for-lik...

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