Heritage and Commerce: First Half 2026 Review

Patrimoine & Commerce unveiled its results for the first half of 2026. Gross rents increased by 5.6%, reaching 30.3 million euros compared to 28.7 million in 2025. However, the net income attributable to the Group decreased by 12%, settling at 10.6 million euros.

The valuation of the properties increased slightly to €930 million, while the loan-to-value (LTV) ratio remained at 42.8%, reflecting the group's investment capacity. Net asset value per share decreased by 4.8% to €29.9.

The financial occupancy rate reached 95.6%, supported by the signing of 49 leases. Net rents increased by 5.3%, despite a rise in non-refundable operating expenses. Debt remains well managed, with 84% of the debt at a fixed rate or hedged.