MERLIN Properties Annual Report 2017 / English

ı 45 ı Annual Report 2017 Office 13.2% Shopping centers 7.3% Logistics 17.5% High street retail 6.4% Other (2) 0.8% 10.5% Total GAV Evolution GAV has increased by € 1,430m, raising from a GAV of € 9,824m as of 31 December 2016 to € 11,254m. The like-for-like (1) increase of GAV from 31 December 2016 is +10.5%. GAV Bridge 959.0 Revaluation 2017 9,823.6 2,000 4,000 6,000 8,000 10,000 12,000 325.4 Acquisitions 2017 171.3 Capex & WIP 2017 (25.3) Disposals 2017 GAV Dec -16 11,254.0 GAV Dec-17 (1) GAV of WIP projects included under offices and logistics fot LfL purposes (2) Including non-core land Office 59 Shopping centers 34 Logistics 34 High street retail 29 Others 27 46 bps Total Yield Compression Yields have compressed by 46 bps since December 2016