2018 Half-year results : Frey confirms the outperformance of its open-air shopping centers

The inherent qualities of Frey’s open-air shopping centres – attractive and lively places for customers, and an extremely competitive occupancy cost ratio (OCR) for retailers – have once again enabled the French REIT to record top-level operating performance, significantly outperforming shopping centres’ benchmark at France’s level.

As at 30 June 2018 and over a rolling 12-month period, the sales posted by retailers in Frey’s real estate portfolio increase by 3.3% (compared with a 0.4% increase in sales of specialised retailers in France1). Accordingly, while shopping centre footfall declined by 1.2% in France over the same period1, Frey records a 3.1% increase in footfall on its properties.

Other KPIs highlighting the strength of Frey’s business model and the outperformance of its portfolio: an EPRA occupancy rate2 of 95.8% as at 30 June 2018, an increase of 130 basis points over a 6-month period, as well as like-for-like growth of annualised rents of 2.2% over the same period (and +22% taking into account perimeter changes).

Antoine Frey, CEO of Frey, declares: “the excellent performance of our properties and, behind that, the satisfaction of both customers and retailers, position Frey, more than ever, as one of the leading players in the transformation of retail property in France.”