Tecla Fondo Uffici - Relazione gestione FY15 (EN)

Jan 27 2016

TECLA - FONDO UFFICI

 

PRELIOS SGR APPROVES THE MANAGEMENT REPORT AS AT 31 DECEMBER 2015

  • TOTAL NAV STANDS AT EURO 150.5 MILLION
  • NAV PER UNIT AT EURO 232.82

 

Milan, 27 January 2016 – The Board of Directors of Prelios SGR, meeting on today's date, approved the management report as at 31 December 2015 for the listed real estate fund Tecla - Fondo Uffici.

Since listing took place in March 2004, the Fund has recorded an annual average dividend yield of 8.7% (compared to a target of 5.5%). The NAV stands at Euro 232.82 per unit; the Market price per unit as at 31 December 2015 was Euro 133.8.

The operating result of the Fund for the full year, net of any unrealised gains/losses, amounted to Euro 1.6 million.

During 2015, the Fund continued its efforts to enhance the asset value by entering into and/or renegotiating new leases, with a view to selling the entire assets. Some of the particularly important contracts signed during 2015 include:

- the renegotiations completed with (i) Telecom Italia S.p.A. relating to all the properties used as telephone exchanges and (ii) two major companies operating in the telecommunications sector, currently tenants of properties in Pozzuoli and Ivrea;

- new leases entered into with (i) a tenant in the large-scale retail sector, for the property located in Rome, and (ii) a non-profit company operating in the field of scientific research, for a property in Pozzuoli.

During the reporting period, the Fund also brought to completion two sales transactions involving seven properties used as telephone exchange, located in Milan, Cassina de' Pecchi (MI), Monza, Rome, Parma, San Remo (IM) and Pavia.

Lastly, during the fourth quarter of 2015, the Fund signed a preliminary agreement for the sale of the remaining properties used as telephone exchange located in Busto Arsizio, Treviso, Palermo, Rome, and Cagliari.

From the date of placement to 31 December 2015, 65.8% of the assets have been divested calculated on their contribution value. The residual property portfolio of the Fund currently consists of 13 properties, located throughout the country.

 

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For more information and details on the management report of the listed fund Tecla – Fondo Uffici as at 31 December 2015, please refer to the financial notice to be published on 28 January 2016 in the daily newspapers “Corriere della Sera” and “Il Sole 24 Ore”. The aforesaid management report and asset appraisal report of the Fund, drawn up by independent experts, will be available to the public at the offices of Prelios SGR, of Borsa Italiana, of the Custodian Bank State Street Bank GmbH - Italy branch and at www.fondotecla.com.