MERLIN Properties Annual Report 2018 / English

ı 43 ı Annual Report 20 18 GAV EVOLUTION GAV has increased by € 787 million, raising from a GAV of € 11,254 million as of 31 December 2017 to € 12,041 million. The like-for-like increase of GAV from 31 December 2017 is +6.1%. GAV BRIDGE 6.1% Total Offices 6.7% Shopping centers 2.3% Logistics 12.4% 5.7% High Street Retail YIELD COMPRESSION Yields have compressed by 9 bps since December 2017. 9 bps Offices 5 Shopping centers 8 Logistics 50 9 High Street Retail 11,254.0 GAV FY17 (502.3) Disposals 569.5 Acquisitions 132.6 Capex & WIP 587.4 Revaluation 12,041.1 GAV FY18 (€ millions)