In 2019, the occupancy rate increased to 90.0% from 89.2% at portfolio level. New additions to the portfolio, Hourglass, Move and The Garage are all fully let and the Fund successfully filled the vacancy created in the Olympic Stadium by the relocation of Under Armour to The Garage.
In early 2019, the Fund reached definitive agreement with the Dutch tax authority on the extension of the lease for WTC The Hague, which made a substantial contribution to the increase in secured annual rental income (30% of the rental income from WTC The Hague and 10% of the rental income at portfolio level). Since this asset's occupancy is near 100%, the selection of and negotiations with new tenants have resulted in higher rent levels. The Fund is also in talks with potential new tenants on a lease for the approximately 8,100 m2 of space due to be vacated by the current tenant in Centre Court, The Hague.
The Fund is devoting a great deal of time and energy to online lead generation. Potential tenants are increasingly turning to the internet as their (first) search engine for office space. On the basis of a number of customer journeys we mapped out for various target groups in 2017, last year we invested in the optimisation of the online presence of our buildings and the targeting of virtual visitors via the continued development of websites using Search Engine Optimisation (SEO), Marketing Automation and a CRM system.
Financial occupancy rate