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ANF is a major property company operating in the centre of the cities of Lyons and Marseilles. It also holds a large portfolio of hotel properties in France.
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2008 key figures :
Rental income : €59.1 million
Floorspace : 400,000 sq. m
Appraised value (31 dec.08) : €1,544 million
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Valued at €1,544 million at 31 December 2008, ANF’s property estate comprised 268,500 sq. m of built structures with an additional
150,000 sq. m planned plus 161 hotel properties rented to B&B.
The property estate can be broken down as follows:
- Lyons city centre: 50 mixed-use Haussmann-style buildings of which 29% is occupied by businesses, 38% is residential and 33% is offi ce space;
- Marseilles city centre: 214 mixed-use Haussmann-style buildings of which 23% is occupied by businesses, 59% is residential and 18% is offi ce space.
This prime location in the city centre gives ANF the lion’s share of commercial leases – in cities with strong potential – and a diverse range of tenants, making ANF’s rental income especially resistant to any eventual drop in consumption and better able to withstand economic diffi culties. The portfolio of hotel properties scattered throughout France is rented out under 12-year leases without exception which expire in 2019. Rents are fi xed or indexed, resulting in a steady, secure stream of rental income.
Hence, ANF’s diverse range of property estate is sound and resilient, making it particularly suited to the current market conditions.
ANF’s shares are listed on the Paris Euronext under compartment B and ISIN FR0000063091). The company plans to maintain its status under the SIIC regime and to comply with the regulations coming into force on 1 January 2010 while at the same time retaining a core shareholder (Eurazeo(1)) which ensures a stable core shareholding structure. Management is now working to fi nd the proper solutions to be implemented.
(1) As at the date of the annual report, Eurazeo held 62.84% of the company’s share capital and 77.35% of the voting rights through its 99.9% equity stake in Immobilère Bingin. |
