However, for specific asset types such as hotels or car parks, it is possible to define the building's primary unit as rooms or parking spaces. In this case, the basis for calculating the fit-out cost is indeed the number of rooms or parking spaces.

This option is also available in the lease-specific assumption. It is also compatible with all fit-out options: allocating a % as opex, starting the fit-out only after a certain number of months, or defining the expenditure at lease expiry or at reletting.

1. Define a lump sum amount for fit-out works in €/unit

2. Define a lump sum amount for leasing fees in €/unit

This introduces the concept of a lump sum amount per unit, which is perfectly suited to modelling of the type 1 lease = 1 unit with a large number of units within the building (a shopping centre, for example).

In the case of a lease covering several units, or a vacant space covering several units, the lump sum amount will be multiplied by the number of units, regardless of the vacant area let, or the occupied areas renewed or re-let.

This lump sum amount option is not available for the lease-specific assumption.

Release Note June 2021