SF Urban Properties makes further purchases
Acquisitions have led to significant growth in real estate income in 2024. In the current year, the company intends to sell in peripheral locations and buy in central locations instead.
In 2024, SF Urban Properties AG increased its property income including ancillary income by CHF 4.86% year-on-year to CHF 31.2 million. The reasons for this included completed conversion projects, additional income from indexation and a portfolio that grew by three properties. The company acquired the two properties Austrasse 71-75 in Basel for CHF 9.5 million and Genferstrasse 21 in Zurich for CHF 14.5 million. In addition, Seefeldstrasse 186 in Zurich was reclassified from a development property to an investment property. In the second half of the year, two new plots for promotional developments were added, namely at Berghaldenstrasse 32/34 in Zurich-Witikon and Dorfstrasse 68 in Zumikon, for a total of CHF 29.7 million.
Including the new additions, the volume of the portfolio increased by 5.5% to CHF 786.6 million. Like-for-like growth amounted to 0.59%.
Net profit including revaluations increased massively from CHF 0.7 million to CHF 16.5 million, while net profit excluding revaluations fell slightly from CHF 15.4 million to CHF 13.1 million. The distribution is expected to increase slightly from CHF 3.60 to CHF 3.65 per registered share, resulting in a distribution yield of 3.71% (previous year: 3.87%).
Concentration on centers
For 2025, Immobilien-AG is planning to consolidate its portfolio with a focus on Zurich and Basel. Acquisitions in central locations are to be offset by sales of properties outside these urban locations. (aw)
