MRM - 2019 Universal Registration Document
3
General information on the issuer and its share capital
Consolidated financial statements for the financial year ended 31 December 2019
Description of investment properties
Property
Address
Date of acquisition GLA area (m 2 )
Type
24-26, place Étienne Marcel 41 boulevard Vauban 78180 Montigny-le-Bretonneux
Sud Canal
10/27/2004
11,609
Retail
2, rue de l’Étape 51100 Reims
Reims
10/11/2004
2,779
Retail
25, place de la Réunion 68100 Mulhouse 17-19, place Jean Jaurès 37000 Tours Place Maurice Vast 80000 Amiens ZAC du Vivier Route de la Bérardière 72700 Allonnes
Passage de la Réunion
04/15/2005
6,014
Retail
06/16/2006 and 09/28/2007
Passage du Palais
6,833
Retail
Halles du Beffroi
08/31/2006
7,405
Retail
12/20/2005 and 06/20/2017
Aria Parc
12,804
Retail
6, rue Châtillon 25480 Besançon École-Valentin 16-18, avenue Morane Saulnier 2-4 avenue de l’Europe 78140 Vélizy-Villacoublay
Valentin shopping centre
12/27/2007
3,013
Retail
Carré Vélizy
12/30/2005
11,624
Retail
12/21/2007 and 05/27/2008
Gamm Vert portfolio
Multiple sites
22,050
Retail
TOTAL
84,131
The appraiser fees are fixed and totalled €50,000 in 2019 compared with €38,000 in 2018. The fees are determined before the appraisal is carried out and are not proportional to the value of the assets appraised. For JLL, the amount of fees billed to the Group as a percentage of total revenue is not material.
Appraiser fees The Group’s property asset portfolio is appraised twice a year by JLL, an independent appraiser appointed at the end of 2013 in accordance with the Group’s five-year appraiser rotation policy. Another progressive appraiser-rotation will take place in 2020.
4.6 Assets held for sale
Accounting principles
Under IFRS 5, assets and liabilities that the Company has decided to sell and the carrying amount which will be recovered principally through a sale transaction rather than through continuing use are to be classified as “Assets held for sale” and “Liabilities held for sale”.
The “Assets held for sale” item includes all receivables on benefits granted to property tenants.
For the sale to be highly likely, an asset sale plan must have been undertaken, and an active programme for finding a buyer must have been launched. Properties in this category continue to be measured using the fair-value model as follows: • property under sale agreement: sale value in the sale agreement net of the costs and commission required to complete the sale; • property for sale: appraisal value excluding transfer taxes net of costs and commission required to complete the sale.
M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT
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