VastNed Offices/Industrial has sold this office and industrial premises park, consisting of 12 pavilions, to Halverton for 28.7 million. After deduction of sales costs, this sum is marginally below the latest book value. The sale of this property improves the spot occupancy rate of the Dutch property portfolio by 0.4 percentage point. Taking lease terminations into account, which could cause further vacancy in the second half of 2005, the effect as per December 31, 2005 is 1.4 percentage point.
Hans Pars, chief investment officer with VastNed Offices/Industrial: 'This sale is fully in line with our policy of structurally improving the occupancy rate of our portfolio in order to get the highest possible return on invested capital.'