Interim Results to 30 June 2015

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \nRNS Number : 2566Z Globalworth Real Estate Inv Ltd 16 September 2015  \n\n16 September 2015\nGlobalworth Real Estate Investments Limited \nInterim Report and Unaudited Condensed Consolidated Financial Statements for the six month period ended 30 June 2015\nGlobalworth Real Estate Investments Limited (\"Globalworth\" or the \"Company\") is pleased to release the Interim Report and Unaudited Condensed Consolidated Financial Statements for the six month period ended 30 June 2015.\nOperational highlights\n•              Completed on target the previously announced acquisitions of the three Class \"A\" office buildings located in Bucharest\n•              Expanded our TAP light industrial complex in Timisoara, by delivering a c.44,800 sqm light-industrial warehouse (pre-)let to Continental; and further expanded it in Q3-15, reaching GLA of c.53,900 sqm, following the completion of the Elster light-production facility\n•              Standing GLA increased to 326,953 sqm of which 273,661 sqm of commercial space\n•              Total GLA increased to 336,071 sqm following the expansion of TAP in Q3-15\n•              c.290,900 sqm of commercial space let or pre-let in our portfolio\n•              WALL of 7.1 years\n•              Average occupancy of our commercial standing properties increased by 9.7%, reaching 86.9% (as at 30 June 2015)\nFinancial highlights\n•              Portfolio Open Market Value (\"OMV\")1 of €808.8 m (31 December 2014: €599.3 m) up 35.0% as compared to 31 December 2014, partly as a result of the acquisition of the above mentioned three office buildings and partly due to a valuation uplift from the 31 December 2014 portfolio values\n•              Loan to Value of 44.9 per cent (31 December 2014: 34.4 per cent) up 10.5 per cen...

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