As a property company with renowned expertise in retail assets, Mercialys is one of the few players that has focused all of its business in this sector. In the shopping centre market, Mercialys has a portfolio that stands out by its sheer size - 724,000 square metres of gross leasable area built at December 31, 2010 - and the quality of its locations.
Mercialys manages a portfolio of 130 properties including 92 shopping centres located throughout France. The portfolio was worth over Euro 2.6 billion at end-December 2010, i.e. 2.7 times more than when the company was founded in 2005.
It comprises new or recently renovated large shopping centres as well as neighbourhood centres strategically positioned in high traffic areas.
Since 2006, Mercialys has been developing an ambitious valuation program for its sites: the Alcudia/L'Esprit Voisin program.
Most of the company's revenue comes from national banners, which generate the highest sales per square metre, create the most traffic and are most resilient during an economic slowdown.
Lastly, Mercialys' carefully manages rental risk, with its 30 biggest tenants (excluding Groupe Casino) accounting for less than 27% of its rent roll.
* Valuation, including transfer taxes, based on revenue capitalisation and discounted cash flow methods performed by Atis Real Expertise, Galtier and Catella in line with the rules of the RICS (Royal Institution of Chartered Surveyors), the French securities regulator (AMF) and the French accounting authorities (CNC).
Properties in the Mercialys portfolio are located primarily in regions that expect to see the strongest population growth over the next 20 years.
