Novavest increases rental income by nine percent
Novavest Real Estate AG's portfolio grew by 10% in FY2022 and was worth CHF 811.8 million at year-end, including acquisitions, investments and revaluations.
Although the revaluation result was positive at CHF 11.9 million, it was only about half as high as in the previous year (CHF 21.8 million). As a result, the profit of CHF 22.4 million fell significantly short of the figure for 2021 (CHF 29.3 million). Excluding revaluation gains, however, profit improved by 9% to CHF 12.7 million.
The target rental income of the investment properties increased by 9% to CHF 32.1 million during the year. According to Novavest, this was due to the expansion of the portfolio through the two acquisitions in Kappel (Grossmatt 44, 46a) and Volketswil (Chriesbaumstrasse 2) as well as the reclassification of the property in Lucerne (Voltastrasse 2). Net rental income also grew by 9%, to CHF 29.2 million, helped by the mid-year purchase in Volketswil and also the properties in Moosseedorf, Ostermundigen, Schaffhausen and St. Gallen, which were already acquired in 2021.
The net return generated on investment properties amounted to 3.2% in the reporting year 2022 (2021: 3.3%). The vacancy rate of the investment properties (excluding projects) increased from 3.7 to 4.6%, which Novavest attributes to the property Schlosserstrasse 4 in Bülach, which was sold in December. Excluding this property, the vacancy rate was 4.0%. (aw)
