New Europe Property Investments plc is a commercial property investor and developer listed on the Main Board of the Johannesburg Stock Exchange Limited (JSE) and the regulated market of the Bucharest Stock Exchange (BVB)
NEPI was founded to acquire, develop and manage regionally dominant retail assets in emerging European Union markets with high-growth potential. The Group built up an exceptional property portfolio and development pipeline in Romania and Slovakia, and is progressing with a retail expansion programme in other target markets. The Group also invests in A-grade offices in Romanian cities with significant multinational tenant demand.
The investment strategy is biased towards long-term leases in Euro with strong corporate covenants. On 31 December 2015, the portfolio had an outstanding weighted average lease duration of 5.6 years, while 64% of the contracted rentable area is occupied by large tenants and major franchisees.
The Group is internally managed and combines property and asset management with investment and development skills in an integrated approach.
NEPI distributes at least 90% of its net rental profits on a semi-annual basis.
|Total number of properties||34||29||51||41||34||33|
|Properties under development||3||3||6||6||2||–|
|Fair value of properties (€m)||1,814||1,252||874||445||342||314|
|Annualised property yield||7.6%||7.8%||8.3%||8.3%||8.2%||8.3%|
|Lettable area of income producing properties ('000 m2)||875||527||433||279||231||226|
|Distribution per share (€ cents)||35.34||32.22||26.79||23.29||20.25||17.61|
|Adjusted NAV per share (€)||5.25||4.63||3.70||2.88||2.43||2.22|
|Shares in issue (m)||299||278||205||144||103||77|