IRIS DE DROOG
Alphons Diepenbrockhof I II
Kenmerken (uit gebouwenbestand)
• Type asset Materieel, fysiek – winkel
• Locatie Den Haag
• Oppervlakte 8.650 m2
• Bouwperiode 1991-2000
• Onderhoud conditiescore 3-
• Energielabel D
• Aantal huurders 9
• Einde huurcontracten 31-1-2023
Prestaties 2019 III Risico’s
• Coronacrisis geld te kort IV
• Marktwaarde (31/12/2019) €70,6 Miljoen • Stijging online verkoop
• Brand
• Exploitatiekosten (% van huur) 16% ✓
• Direct rendement 2,85% ✗ Scenario’s
• Indirect rendement -14,7% ✗ • WACC 2,6%
• Contract- vs. markthuur (per m2) 111% ✓ • DCF -waarde door exploiteren € 25.629.287,74
• Leegstand • Voorgesteld scenario Door exploiteren, renoveren,
• Fysiek 10% ✓ Her ontwikkelen of verkopen
• Financieel 9,1% ✓
1
, Inhoudsopgave
I. ILLUSTRATIE .............................................................................................................................................. 3
OVEREENKOMENDE KENMERKEN .................................................................................................................................. 4
WAAROM SPREEKT DIT GEBOUW MIJ AAN? .................................................................................................................. 4
II. KENMERKEN.............................................................................................................................................. 5
DE HUURDERS ................................................................................................................................................................... 5
DE STAKEHOLDERS........................................................................................................................................................... 5
III. PRESTATIES ............................................................................................................................................. 6
MARKTWAARDE 31 DECEMBER 2019 ......................................................................................................................... 6
INDIRECT RENDEMENT .................................................................................................................................................... 6
DIRECT RENDEMENT ........................................................................................................................................................ 6
EXPLOITATIEKOSTEN ....................................................................................................................................................... 6
CONTRACT VS. MARKTHUUR ........................................................................................................................................... 7
LEEGSTAND........................................................................................................................................................................ 7
IV. RISICO’S EN SCENARIO’S ...................................................................................................................... 8
RISICO IDENTIFICATIE...................................................................................................................................................... 8
RISICO’S ORDENEN ........................................................................................................................................................... 8
BEHEERSMAATREGELEN ................................................................................................................................................. 9
WACC .............................................................................................................................................................................. 10
DCF - WAARDE ............................................................................................................................................................... 10
SCENARIO KEUZE ............................................................................................................................................................ 10
SCENARIO INVULLING .................................................................................................................................................... 11
Reflectie/ nawoord
2
Alphons Diepenbrockhof I II
Kenmerken (uit gebouwenbestand)
• Type asset Materieel, fysiek – winkel
• Locatie Den Haag
• Oppervlakte 8.650 m2
• Bouwperiode 1991-2000
• Onderhoud conditiescore 3-
• Energielabel D
• Aantal huurders 9
• Einde huurcontracten 31-1-2023
Prestaties 2019 III Risico’s
• Coronacrisis geld te kort IV
• Marktwaarde (31/12/2019) €70,6 Miljoen • Stijging online verkoop
• Brand
• Exploitatiekosten (% van huur) 16% ✓
• Direct rendement 2,85% ✗ Scenario’s
• Indirect rendement -14,7% ✗ • WACC 2,6%
• Contract- vs. markthuur (per m2) 111% ✓ • DCF -waarde door exploiteren € 25.629.287,74
• Leegstand • Voorgesteld scenario Door exploiteren, renoveren,
• Fysiek 10% ✓ Her ontwikkelen of verkopen
• Financieel 9,1% ✓
1
, Inhoudsopgave
I. ILLUSTRATIE .............................................................................................................................................. 3
OVEREENKOMENDE KENMERKEN .................................................................................................................................. 4
WAAROM SPREEKT DIT GEBOUW MIJ AAN? .................................................................................................................. 4
II. KENMERKEN.............................................................................................................................................. 5
DE HUURDERS ................................................................................................................................................................... 5
DE STAKEHOLDERS........................................................................................................................................................... 5
III. PRESTATIES ............................................................................................................................................. 6
MARKTWAARDE 31 DECEMBER 2019 ......................................................................................................................... 6
INDIRECT RENDEMENT .................................................................................................................................................... 6
DIRECT RENDEMENT ........................................................................................................................................................ 6
EXPLOITATIEKOSTEN ....................................................................................................................................................... 6
CONTRACT VS. MARKTHUUR ........................................................................................................................................... 7
LEEGSTAND........................................................................................................................................................................ 7
IV. RISICO’S EN SCENARIO’S ...................................................................................................................... 8
RISICO IDENTIFICATIE...................................................................................................................................................... 8
RISICO’S ORDENEN ........................................................................................................................................................... 8
BEHEERSMAATREGELEN ................................................................................................................................................. 9
WACC .............................................................................................................................................................................. 10
DCF - WAARDE ............................................................................................................................................................... 10
SCENARIO KEUZE ............................................................................................................................................................ 10
SCENARIO INVULLING .................................................................................................................................................... 11
Reflectie/ nawoord
2
