Helvetica Swiss Commercial reduces vacancy rate
In the third quarter of 2017, the Helvetica Swiss Commercial real estate fund was able to acquire a property in St. Gallen and reduce the vacancy rate in the portfolio from 9.5 to 8.6 percent.
According to the fund's quarterly report, the purchase of a property in Goldach (SG) with a gross actual yield of 6.18 percent was notarized and closed in the past quarter. The vacancy rate in the fund portfolio was reduced to 8.6 percent as of the end of September due to various lettings and the acquisition.
For example, around 1,000 sqm of rental space and parking spaces with an annual rental value of around CHF 204,000 were newly leased. In the Zurich property Max-Högger-Strasse alone (to be marketed in future as "Max6"), around 800 sqm of office space was let; this reduced the vacancy rate in the property at the beginning of the fourth quarter from 14 percent previously to 5.7 percent now.
The portfolio properties of the Helvetica Swiss Commercial fund were sold in the third quarter due to the planned capital increase revalued. Accordingly, the value of the portfolio increased slightly by 0.28 percent as of the end of September compared with the value as of June 30. The portfolio now comprises 64,500 sqm of rental space valued at 153 million.
According to the fund, the purchase of two further properties in Baden (AG) and Zuzwil (SG) for a total of 29 million has already been notarized. The change of use and encumbrance took place on October 1. The purchase of another property in central Switzerland is about to be completed.
The fund management company also announced that Banque Cantonal Vaudoise (BCV) will be responsible for the over-the-counter trading of fund units as of September 1. A change of custodian bank (currently Notenstein La Roche Privatbank) is also envisaged.
