5 Retail locations by strategy
A spread by strategy is applied in the analysis of the valuation of the investment property portfolio. The Fund’s key retail strategic segments are: Experience, Convenience, Mixed and Other.
6 Gross rental income and service charge income
The future contractual rent from leases in existence on 31 December 2023, until the end of the contract (accounted for on the basis of the minimum rent) can be analysed as follows:
7 Property operating expenses
In 2023, € 0.0 million (2022: € 0.1 million) of the maintenance expenses related to unlet properties. The gain in the 2023 promotion and marketing expenses is primarily due to a release of a provision which was accounted for as at 31 December 2022.
8 Administrative expenses
Where administrative expenses relate directly to the operation of the property portfolio, they are charged to operating expenses. Where administrative expenses relate directly to the development of the property portfolio, they are capitalised.
9 Finance income and expenses
The Fund had no external loans and borrowings during 2023. The Fund was subject to the positive interest rate development for its bank balances.
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