Patrimoine & Commerce Records Growth in Its Rents in the 1st Quarter of 2024

Patrimoine & Commerce announced an increase in its gross rents of +8.0% in the first quarter of 2024, reaching 13.1 million euros. This increase is mainly due to the contractual indexation of leases and the impact of restructuring operations as well as recent acquisitions.

The breakdown of rents reveals growth on a like-for-like basis of +4.7%, based on the indexation of leases. Restructuring operations and acquisitions, notably in La Ville-du-Bois and Saint-Parres-aux-Tertres, also contributed positively to this performance.

Furthermore, the company sold a small non-strategic shopping mall, aligned with expert assessments, for an amount of 1 million euros.

Éric Duval, Manager and Founder, affirms that these results confirm the positive dynamics of 2023 and illustrate the effective strategy of targeted acquisitions and arbitrage. The company intends to continue on this path to consolidate its position on the low-cost retail park market in France.

The next financial publications include the general meeting on June 13, 2024, the presentation of the half-year results on July 24, 2024 and the third quarter turnover on October 11, 2024.