The property portfolio mainly comprises commercial premises. Offices account for 74 per cent of the total lettable area. In addition to offices, the portfolio includes retail, industrial/warehouse and residential space and hotel and garage space. The largest sub-market, Stockholm inner city accounts for 53 per cent of the total market value and 53 per cent of the rental value.
Rental value by category,
total SEK 2,260m |
Lettable area by category,
total 1,130,000 sqm |
 |
 |
Breakdown by lettable area*
|
'000 sqm |
Office |
Retail |
Industrial
/warehouse |
Hotel |
Residential |
Garage |
Total |
| Stockholm inner city |
356 |
28 |
27 |
8 |
11 |
45 |
475 |
| Solna |
371 |
37 |
35 |
9 |
2 |
49 |
503 |
| Hammarby Sjöstad |
84 |
10 |
24 |
0 |
1 |
8 |
127 |
| Other markets |
20 |
1 |
4 |
0 |
0 |
0 |
25 |
| Total |
831 |
76 |
90 |
17 |
14 |
102 |
1,130 |
Property portfolio
|
per 31 December 2012 |
1 January-31 December 2012 |
|
No. of properties |
Lettable area, 000' sqm |
Market value, SEKm |
Direkt avkastning, % |
Rental value, SEKm* |
Financial occupancy rate, % |
Rental income, SEKm |
Property expenses, SEKm |
Net operating income, SEKm |
| Property holdings |
| Investment properties |
74 |
1,018 |
28,842 |
5.62 |
2,152 |
93 |
1,956 |
-484 |
1,472 |
| Development properties |
6 |
37 |
302 |
6.34 |
29 |
62 |
19 |
-13 |
6 |
| Land and project properties |
15 |
75 |
2,492 |
6.28 |
79 |
65 |
34 |
-12 |
22 |
| Total |
95 |
1,130 |
31,636 |
5.67 |
2,260 |
92 |
2,009 |
-509 |
1,500 |
| Stockholm inner city |
37 |
475 |
16,950 |
5.32 |
1,197 |
93 |
1,089 |
-277 |
812 |
| Solna |
37 |
503 |
11,904 |
6.03 |
840 |
90 |
736 |
-170 |
566 |
| Hammarby Sjöstad |
13 |
126 |
2,515 |
6.27 |
205 |
88 |
168 |
-55 |
113 |
| Other markets |
8 |
26 |
267 |
7.00 |
18 |
85 |
16 |
-7 |
9 |
| Total |
95 |
1,130 |
31,636 |
5.67 |
2,260 |
92 |
2,009 |
-509 |
1,500 |
| Expenses för lettings, project development and property administration |
-105 |
| Total net operating income after expenses for lettings, project development and property administration |
1,385** |
* In the rental value, time limited deductions (in terms of the current annual rental value at 31 December 2012) of SEK 210m were not deducted.
** The table refers to Fabege’s property portfolio on 31 December 2012. Income and expenses were recognised as if the properties were owned for the entire period. The difference between recognised net operating income above, SEK 1,385m, and net operating income in profi t or loss, SEK 1,264m, were explained by net operating income from divested properties being excluded, and acquired/completed properties being adjusted upwards as if they were owned/completed during the period of January–December 2012. |
* per 31 December 2012