Furthermore, the points about which there was still some
disagreement with the city council of Utrecht could be settled in
a way satisfactory to both parties.
The Beheerskantoor Hoog Catharijne bv now operates the whole
shopping and office area, which furthers the unity of administration.
The preparations for the building of the office plan at Leidseveer
are proceeding as desired.
In this year under review, too, the company in which the ownership
and the operation of the Holiday-Inn Hotel in Utrecht are
incorporated will make a substantial contribution to the profit.
In view of the high degree of occupation it is intended to enlarge
this hotel by a number of bedrooms and meeting-rooms;
consultations about this are being carried on with the Utrecht
city council. At the same time the hotel will be adjusted on some
points to present-day requirement. We look forward confidently
to the further development of the Holiday-Inn Hotel.
In the development of the Scheveningen reconstruction plan, in
which development we are interested both as a first mortgage
financer (50%) and as a co-owner (as to 16!%), a milestone will
be reached in 1979 with the completion of the Kurhaus.
At the same time a start will be made in that year with the
construction of the shopping and residential area on the place
where the Palace building once stood.
During 1978 movements in our holdings of real estate in operation
were as follows:
excluding
including
minority
minority
participations
participations*
book value
market value
market value
Value at 1st January 1978
271.618.000
320.000.000
494.900.000
Purchages and projects
taken in operation
69.825.000
69.800.000
91.700.000
341.443.000
389.800.000
586.600.000
Cost included in sales results
31.334.000
31.800.000
37.500.000
310.109.000
358.000.000
549.100.000
Depreciation
Change in market value as
4.621.000
-
a result of new valuation
19.100.000
31.200.000
Value at 31st December 1978
305.488.000
377.100.000
580.300.000
Annualized rents, including minority participations, amounted to
51,1 million at 31st December 1978.
in the proportion of our interests therein.
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