SF Retail Properties Fund gains
The SF Retail Properties Fund is satisfied with the course of the fiscal year. Rental income increased and the vacancy rate decreased.
Swiss Finance & Property Funds reports total fund assets of CHF 883.6 million for the SF Retail Properties Fund, an increase of 8.1% compared to the previous year. Net fund assets increased by 12.2 million to 632.9 million. Rental income also grew by 8.1% to 42.8 million, with the vacancy rate down 1.6 percentage points to 5.5% and the rent default rate down 2.1 percentage points to 6.3%, the fund management said. It said the leasing of available space in various locations, including Bioggio, Delémont and Zwingen, contributed to the reduction in vacancy. In addition, a vacant property in Münsingen was sold. The average lease term (WAULT) is 6.5 years. The net income amounts to 27.6 million euros, according to the information provided.
The SF Retail Properties Fund portfolio comprises 91 properties in 20 cantons and has a target rental income of 47.1 million. It has a leasable area of 233,912 sqm and a market value of 869.4 million (+64.5 million). Retail use accounts for just over three-quarters of the space, followed by office and commercial (10.7%) and warehouse/ancillary (6.5%). The largest tenants are Coop, Migros, MediaMarkt, Aldi Suisse, Lidl Switzerland and Denner.
In the next financial year, the SF Retail Properties Fund intends to expand and further develop its portfolio - in particular by tapping utilization reserves and through acquisitions. (ah)
