Project Westfield

PROJECT WESTFIELD

OPERATING BUDGET (YEAR 1)

EMILIEHAVEN

Parking - Emiliehaven

OPERATING BUDGET (YEAR 1)

DKK total

DKK/sq m (1)

DKK total

DKK/parking space

Net rental income

12,621,654

1,629

264,902

2,943

Service charges

0

0

0

0

Operating income

12,621,654

1,629

264,902

2,943

Property taxes 2, 3

-345,000

-45

0

0

Refuse collection 2

-334,000

-43

0

0

Property insurance 2

-55,000

-7

0

0

Janitorial services and cleaning 4

-309,840

-40

0

0

NOTES: All amounts are quoted in DKK.

Service subscriptions 2

-31,000

-4

0

0

1. Per sq m GLA.

Common utilities 5

-23,238

-3

0

0

2. Based on the Sellers’ operating

budgets for 2024 except for Solviften, which is estimated by Colliers.

Constribution to (land)owners' associations 2

0

0

0

0

3. It is estimated by Colliers that property taxes are too high for Skjerbeg Allé. It is estimated that the property taxes for the property should be ap proximately DKK 60 per sq m GLA rather than DKK 131 per sq m GLA.

External maintenance 6

-232,380

-30

0

0

Property management 7

-285,000

-37

-90,000

-1,000

Operating costs

-1,615,458

-209

-90,000

-1,000

4. Estimated costs for janitorial services and cleaning (DKK 40 per sq m GLA).

Net operating income (fully let)

11,006,196

1,421

174,902

1,943

5. Estimated costs for common utilities (DKK 3 per sq m GLA).

6. Estimated long-term provision for external maintenance (DKK 30 per sq m GLA). 7. Estimated property management costs (DKK 3,000 per residential unit; DKK 1,000 per parking space).

Reversionary potential

1,056,950

136

0

0

Net operating income (incl. reversionary potential)

12,063,146

1,557

174,902

1,943

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