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WDP 2020 Annual Report
87
PROPERTY REPORT Review of the consolidated property portfolio Description of the portfolio as at 31.12.2020
Geographical breakdown of the fair value of the portfolio
Independent property experts Stadim, JLL, Cushman & Wakefield, CBRE and BNP Paribas Real Estate valuated the WDP property portfolio (including Assets held for sale and excluding solar panels) in accordance with IAS 40 at a fair value1 of 4,644.1 million euros on 31 December 2020. The fair value at the end of 2019 amounted to 4,054.8 million euros.
The Netherlands
Belgium
48.4%
31.6%
Fair value Germany
0.1%
Romania
16.0% Luxembourg France
2.8%
1.2%
The portfolio breaks down as follows: Fair value in euros (x million)
Belgium
The Nederlands
France
Luxembourg
Romania
Germany
Total
Existing buildings
1,330.8
2,111.6
128.8
49.5
635.7
4.4
4,260.9
101.0
95.6
–
4.2
56.1
–
256.9
Land reserve
18.0
41.5
0.5
–
50.3
–
110.3
Assets held for sale
16.1
–
–
–
–
–
16.1
1,465.9
2,248.6
129.3
53.7
742.1
4.4
4,644.1
Projects under development
Total
1 The fair value at which the investment property is measured consists of the investment value less transaction costs. The average theoretical local transaction costs deducted from the investment value are as follows, by country: Belgium: 2.5%, Netherlands: 8.2%, France: 4.8%, Luxembourg: 7.0%, Germany: 7.5% and Romania: 1.5%.
