Patrimoine et Commerce
PATRIMOINE ET COMMERCE: Q3 2024 RESULTS +5.6% IN GROSS RENTAL INCOME AT €39.5M

PRESS RELEASE

Q3 2024 RESULTS

+5.6% in gross rental income at €39.5m

Paris, October 11, 2024

The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 39.5 million of euros for the first nine months of 2024, an increase of +5.6% compared to the first nine months of 2023.

This increase is mainly explained by:

• A like-for-like increase of +4.3%, mainly due to the contractual indexation of rents, and the decrease in the amortization of Covid-19 rent free periods.
• The full-year impact of the delivery of restructuring works (La Ville-du-Bois) and of acquisitions (Saint-Parres-aux-Tertres) carried out in 2023.

Disposals

During the first nine months of 2024, Patrimoine & Commerce continued its asset rotation policy with the disposal of a small commercial gallery in Gaillon (Normandie), as well as two isolated commercial units in Saint-Gaudens (Occitanie) and in Chambly (Hauts-de-France) for a total consideration of € 2.1m.

Outlook

Eric Duval, Founder and Director of Patrimoine & Commerce declared: “Patrimoine & Commerce observes a +5.6% increase in rents in the third quarter of 2024, as a result of active portfolio management. We are confident in the fundamentals and robustness of our economic model, and we aim to strengthen our status as a leading player in low-cost retail parks in France”.

Agenda

February 19, 2025 2024 Full-Year Results

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About Patrimoine & Commerce 

Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of close to 530,000 sqm. The assets are mainly located in retail parks near mid-sized towns throughout France. Patrimoine & Commerce benefits from a significant identified deal flow that will enable it to feed its growth, in terms of both assets under development and operating assets. 

Patrimoine & Commerce is listed on NYSE Euronext Paris. 

ISIN code: FR0011027135 – Mnémo code: PAT 

For further information, go to: www.patrimoine-commerce.com 

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