Corio sold out of its Dutch portfolio the property Het Kleine Loo in The Hague and a part of Cityplaza in Nieuwegein for an amount of € 37.7 million. On 29 November the French office building Rue Lecourbe located in the 15th arrondissement of Paris was also sold for an amount of € 2.2 million.
Het Kleine Loo in The Hague has been sold to IEF Capital for an amount of € 22.9 million (purchasing costs payable by the purchaser), which is 6.7% above the book value of 30 June 2004. This is a mixed-use project with approximately 8,100 m² of retail, 4,800 m² of offices and 116 parking spaces. Furthermore a part of Cityplaza in Nieuwegein has been sold to the local government of Nieuwegein for an amount of € 14.8 million, 1.7% under the book value of 30 juni 2004. This part mainly consists of offices (8,300 m² including library and storage) but also has 700 m² retail, 42 houses and a parking basement with 42 places. This sale is taking place for the benefit of the new, by Corio as investor to be acquired city center plan of Nieuwegein. The office building Rue Lecourbe in Paris has been sold for an amount of € 2.2 million, 3.5% above the book value of 30 June 2004. It has a lettable area of approximately 1,000 m².
These sales fit very well into Corio’s strategy. The focus of Corio is on retail and shopping centers in particular, in its ‘home countries’: the Netherlands, France, Italy and Spain. Furthermore Corio is continuously optimising and extending its portfolio through local hands-on management. Corio is listed at the Euronext Amsterdam.
Source: Corio
