annual report 2009 - bei der Hamborner REIT AG

to our sHareHolders management report Financial statements supplementary inFormation
The residual term of our commercial rental agreements weighted according to rental income
amounts to 5.8 years. The weighted residual term for the office sector represents 3.2 years
and approximately 7.2 years for retail trade spaces. Approximately 60% of the contractual
rental income does not expire until 2014 and later:
Rental agreement expiries *
70 %
60 %
50 %
40 %
30 %
20 %
10 %
0 %
7.0 %
6.0 %
11.0 %
16.0 %
58.0 %
2010 2011 2012 2013 2013 et seq.
* rental agreement expiries in relation to rental income
2.0 %
indefinite period
Rent incomes constitute the key earnings source for our company. The pursuit of the development
of their structure, the rental agreement expiries, the vacancy rates, the rent arrears
and deficiencies are integral parts of the monthly controlling reports.
Building and property maintenance
The objective of the building and property maintenance at HAMBORNER is the continuous
care and optimisation of the managed properties. Regular property inspections constitute
the most important module in this regard in order to detect existing defects on the spot in
good time and rectify them . At the same time, these regular inspections are also used to
identify possible measures for improvement and to incorporate them into the long-term
maintenance plans.
As in the past, numerous individual measures to the roofing, the façades and the building
technology installations were also used in the 2009 financial year within the framework
of the planned maintenance to upgrade the components in question for energy saving and
thus to improve the rentability of the buildings for the long term. The co-ordination and
carrying out of alterations within the framework of new or follow-up rental agreements
constitute a further substantial part of the daily tasks in building maintenance. In this regard
we have also succeeded in the financial year examined in implementing the measures in the
required time and cost framework and in handing over the spaces recently leased for the
long term in accordance with the agreement.
In the financial year 2009, the maintenance expenditure amounted to approximately
€1.3 million (previous year: €1.1 million). The expansion of the REWE market in Cologne,
Von-Bodelschwingh-Straße 6, envisaged by us together with the tenant has been delayed .
Contrary to the original plan for this project, the necessary agreements, particularly with the
City of Cologne, have been delayed , so that the anticipated commencement of construction
had to be postponed to the year 2010. Therefore, only the planning costs for the renovation
and expansion have accrued in the past financial year.
The modernisation of the MAN workshop in St. Augustin, Einsteinstraße 26, the replacement
of the heating system in the C+C hypermarket in Freiburg, Robert-Bunsen-Straße 9a and the
replacement of ventilation equipment in the Hamburg property, Fuhlsbüttler Straße 107-109
annual report 2009 | Hamborner reit ag 45