Posting of Annual Report and Notice of AGM

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \n \n \n RNS Number : 5569T\n Globalworth Real Estate Inv Ltd\n 26 March 2021\n  \n \n \n \n The information communicated within this announcement is deemed to constitute inside information for the purposes of Article 7 of Regulation (EU) No 596/201 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"). Upon the publication of this announcement, this information is considered to be in the public domain.\n \n \n  \n \n \n 26 March 2021\n \n \n  \n \n \n Globalworth Real Estate Investments Limited\n \n \n (\"Globalworth\" or the \"Company\")\n \n \n  \n \n \n Audited Results for the year ended 31 December 2020,\n \n \n Posting of Annual Report and\n \n \n Notice of AGM\n \n \n  \n \n \n  \n \n \n Globalworth, the leading office investor in Central and Eastern Europe, announces that further to the publication on 5 March 2021 of its Condensed Unaudited Financial Results, it is pleased to release its Annual Report and Audited Consolidated Financial Results for the year ended 31 December 2020 (\"2020 Annual Report\"). \n \n \n  \n \n \n  \n \n \n Operational Highlights\n \n \n · \n Total combined portfolio value remained effectively unchanged at €3.0 billion.\n \n \n ‒ \n €2.3 billion in environmentally certified properties. \n \n \n · \n Performed an extensive review of our cost base, passing on service charges savings to our tenants and reducing our administrative expenses by c.7.0% compared to FY2019.\n \n \n · \n Focused developments only on projects with significant pre-lets or advanced level of construction, delivering two Class \"A\" offices and two high-quality industrial facilities in Romania and Poland with 95.8k sqm of GLA.\n \n \n · \n Overall standing portfolio footprint increased by 4.7% to 1,271.3k sqm of GLA.\n \n \n · \n Leasing transactions for a total of 303.5k sqm of commercial space at an average WALL of 3.9 years.\n \n \n ‒ \n 74.3% related to lease renegotiations / extensions with our existing tenants.\n \n \n · \n Standing commercial occupancy remained high at 90.9% (91.7% including tenant options) as at year-end, impacted however by the delivery of properties under development still in lease-up stage and a 3.3% decrease in like-for-like occupancy due to the very challenging market conditions.\n \n \n · ...

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