6. Leases in 2009
At the end of June 2009 the occupancy rate* of the WDP portfolio was 97.2%, slightly down from the historically high occupancy rate of 99% on 31 December 2008.
In addition to a number of offices in Boom, Bornem and Boortmeerbeek, there was only 10,000 m2 available in Vilvoorde – Havendoklaan and 4,000 m2 in the newly completed property in Seclin (France). A large number of existing lease contracts with interim or final expiry dates were extended.
In the course of the second half-year storage spaces totalling 50,000 m2 are due to become vacant. Additionally, 48,000 m2 will become available when the current ongoing projects in Courcelles, Nivelles and Venlo are completed (see also ‘3. Projects in progress’ on p. 11). At present WDP is engaged in talks with existing lessees on extending the contracts, and with potential new lessees for various sites. Nonetheless, WDP expects the occupancy rate to decline towards the end of the year.
With a view to the longer-term future, WDP has already succeeded in extending 55% of the contracts with an interim or final expiry date in 2010. The space that will additionally become vacant is consequently limited to 80,000 m2 of the total portfolio. This is a positive starting point for the next year.
* The occupancy rate is calculated on the basis of the rental value of the let square metres in relation to the rentable square metres. Projects in progress and/or renovation are not included in the calculation.
