The future contractual rent from leases in existence on 31 December 2018, until the end of the contract (accounted for on the basis of the minimum rent) can be analysed as follows:

In 2018, € 0.1 million (2017: € 0.2 million) of the maintenance expenses related to unlet properties.

Where administrative expenses relate directly to the operation of the property portfolio, they are charged to operating expenses. Where administrative expenses relate directly to the development of the property portfolio, they are capitalised.

The Fund had no external loans and borrowings during 2018. The Fund was subject to the negative interest rate development for its bank balances.

The Fund has opted for the status of Fiscal Investment Institution (FII). Although an FII is not transparent for tax purposes the FII regime is based on the principle of tax transparency.

The Office Fund has no employees.

The Fund’s investment properties are valued by external valuation experts on a quarterly basis. The external valuation expert is changed every three years.

Investment property is not (re)developed within the Office Fund but via external parties or within Bouwinvest Office Development B.V. As at 31 December 2018 the investment property under construction relates to Hourglass, Building 1931 and Building