In millions of euros
IFRS rental income
Occupancy rate at period-end
Cegereal's (Paris:CGR) rental income for the nine months ended September 30, 2020 totaled €47.7 million, a year-on-year increase of 2.0%. The occupancy rate stood at 93.4% at the end of the third quarter, after taking into account the departure of Sagem in April. At September 30, 2019, the occupancy rate stood at 95.0%.
Business model proves resilient in current crisis
Over the past 12 months, leases have been signed, extended or renewed on almost 20,000 sq.m or more than 10% of the total surface area of Cegereal's portfolio demonstrating the quality and appeal of its properties. Interest has already been expressed in the space vacated by Sagem in April in the Arcs de Seine campus, located on the banks of the Seine in Boulogne-Billancourt. At end-September 2020, the weighted average lease term (WALT) of the portfolio stood at more than five years.
At September 30, 2020 Cegereal had collected all rents due, thanks to its pure-play positioning in the office real estate segment.
During this second lockdown, Cegereal remains particularly attentive to its users' needs. Its teams are in regular contact with tenants and have been even more so over the past few months in order to offer them the right solutions.
A sustainable approach
During the period, new restaurant facilities and a new lounge area were inaugurated at the Europlaza tower, located at the center of the La Défense business district. Facing onto a patio, these bright and airy connected living spaces provide users with a unique place to meet up and exchange ideas. Keen to deliver a premium restaurant service, Cegereal has set up a high-quality, original offering with directly-sourced fresh products, run by Serenest. Tower occupants also have access to a lounge bar, giving them a warm and friendly space to welcome their guests.
Cegereal has also continued to increase the proportion of green space at the property by creating a vegetable patch in the private gardens, where tenants can pick fruits and herbs an example of urban agriculture that has yet to be found elsewhere in La Défense. These concrete initiatives reflect the Company's commitment to ESG challenges.
Created in 2006, Cegereal is a listed property company that invests in prime office properties in Greater Paris. The total value of the portfolio was estimated at €1,460 million at June 30, 2020 (excluding transfer duties).
Thanks to its strong commitment to environmental, social and governance issues, Cegereal achieved first place among listed companies in Europe in the 2019 Global Real Estate
Sustainability Benchmark (GRESB) ranking. Its entire portfolio has achieved NF HQETM Exploitation and BREEAM In-Use International certification.
Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €398 million at November 5, 2020.
For more information, contact:
Aliénor Miens/Quentin Dussart
+33 (0)6 59 42 29 35
Charlotte de Laroche
+33 1 42 25 76 38