Patrimonium Urban Opportunity with higher yield

Patrimonium Urban Opportunity AG reported a 15.7% increase in net operating income to CHF 4.8 million for the first half of the year. Net profit, including a revaluation gain of CHF 1.8 million, fell to CHF 3.2 million due to a book gain in the prior-year period.

The fact that operating income rose by 7.1% to CHF 6.5 million was mainly due to lettings in Crissier, Reinach and the new building in Bussigny. The occupancy rate of the property in Reinach, which was acquired vacant last year, reached around 51 % and the reduction in maintenance costs lowered property expenses by 11.4% to CHF 1.7 million. The operating result before revaluation rose by just under CHF 9.8% to CHF 3.4 million. The value of the portfolio rose from CHF 254.8 million to CHF 260.6 million thanks to investments of CHF 4 million and a revaluation gain of CHF 1.8 million.

Completed property in Bussigny let at 62%

A significant event in the period was the completion of the development of an office property in Bussigny (Mochettaz 7). This led to a revaluation gain in the reporting period. According to Patrimonium, the property has a low environmental footprint thanks to systems such as a Canadian heat exchanger, photovoltaics with a smart grid, heat pumps and automated geocooling via water storage tanks. 62% of the space has reportedly already been let to two permanent tenants with long-term contracts. Once fully let, the property will generate additional income of CHF 0.73 million.

In the second half of the year, the focus will be on optimizing the portfolio. The aim is to reduce the vacancy rate in Bussigny, Crissier and Reinach. The ongoing development projects will also be driven forward. (aw)