2 – Gross rental income
| (€ million) |
2008 |
2007 |
| Theoretical rent |
380.2 |
|
333.4 |
|
| Vacancies |
-15.5 |
|
-14.9 |
|
|
|
364.7 |
|
318.5 |
The Group leases investment property to third parties on the basis of operating leases. Contingent rental income amounts to 1% of the gross rental income in 2008 and 2007.
The future contractual rent from leases in existence on 31 December 2008 until the end of contract (accounted for on the basis of the minimum rent) can be analysed as follows for the first five years:
| (€ million) |
2008 |
2007 |
| First year |
|
305.7 |
|
268.7 |
| Second to fourth year |
|
177.5 |
|
151.6 |
| Fifth year |
|
126.3 |
|
77.6 |
Source: Annual Report 2008, Chapter Financial Statements, page 162 (PDF, 179 kB)
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