Realstone Swiss Property: Revenues rise, yields fall
The Realstone Swiss Property real estate fund increased its rental income by almost 6% in the 2018/19 financial year. However, the return on investment fell to 2.95%.
The fund management company Realstone has reported a "robust 2018/19 financial year" for the Realstone Swiss Property fund. Rental income rose by CHF 5.9% or CHF 2.8 million to CHF 49.5 million thanks to acquisitions and a lower vacancy rate. The rental loss rate fell from 8.89% to 7.3%. Overall, the fund generated income of 50.5 million (previous year: 48.8 million). Expenses increased by 1.5 million or 5.6% to 27.8 million.
Net income increased byTP3T 0.91 million toTP 22.7 million in the reporting period (previous year: 22.5 million). Total income for the accounting period amounted to 23.1 million after 26.1 million in the previous year. This results in a return on investment ofTP3k 2.951, compared toTP3k 3.681 in the 2017/18 financial year. A dividend of CHF 3.65 per share will be distributed (previous year: CHF 3.80).
As at March 31, 2019, the Realstone Swiss Property fund's real estate portfolio consisted of 60 properties with a total value of CHF 1.04 billion (previous year: CHF 999 million). The fund acquired properties in Affoltern am Albis (ZH), Chavannes-Renens (VD) and Nyon (VD), while one property in Zurich was sold. A net amount of around CHF 30 million was invested. The sale of the Zurich property generated a profit of around CHF 1.7 million.
According to the fund management company, investments in the portfolio amounted to 16.4 million. Several major renovations were completed, such as facade and roof renovations and the conversion of commercial space into lofts. Further extension projects are planned, which could create up to 33 new apartments. (ah)
