SF Retail Properties Fund acquires

The real estate fund has acquired three properties in St. Gallen, Frauenfeld and Delémont, which will be recognized in income as of December 1, 2019. In addition, a new construction project in Zweisimmen was notarized and will be integrated into the portfolio as of July 1. The acquisitions will increase target rental income by CHF 2.47 million to CHF 43.3 million, according to the fund. The leasable space increased by 10,353 sqm to a total of 230,040 sqm.

The property Rue de l'Avenir 5 in Delémont (JU) is an addition to the existing properties in the city, according to SF Retail Properties Fund. With the acquisition, the fund is the sole owner of the properties. The overall renovation of the properties at Rue de l'Avenir 3 and 5 is scheduled to begin in 2020, with plans to hand them over to tenants by the third quarter of 2021. The purchase price for the rounding property is reportedly 2.0 million.

In St. Gallen, the fund has purchased the fully leased retail property Breitfeldstrasse 1 in the immediate vicinity of the existing property Breitfeldstrasse 7. The building reportedly has a leasable area of around 2,400 sqm on two floors. Several parts of the building have been renovated in recent years, with the most recent renovation taking place in 2018, it said. Annual rental income is CHF 519,000, according to SF Retail Properties Fund. With a purchase price of 8.1 million, the gross yield is 6.41%, it adds.

The property at Zürcherstrasse 297 was purchased on the axis of entry to Frauenfeld (TG). According to information, it is a local supply center with Denner and Qualipet as anchor tenants. The property covers an area of 3,400 sqm and has two floors as well as an underground car park. The purchase price is stated at 11.04 million, the annual target rent at CHF 702,000 and the gross yield at 6.36%.

With these last acquisitions of the year, the fund's portfolio includes 88 properties in 20 cantons valued at761.1 million as of December 31, 2019. With a target rent of 43.3 million, the gross yield is 5.69%, according to the fund.

New construction project in Zweisimmen acquired

In Zweisimmen (BE), the SF Retail Properties Fund has taken over the Märithalle, a new construction project of Migros Aare. The new building is scheduled for turnkey handover in July 2020. The first floor houses a Migros supermarket and a Denner discount store. The tenant of the first floor space is Migros Aare with a 15-year general lease, according to the release. On the second floor, MedBase will open a 400-square-meter group practice. In addition to the practice rooms, 13 apartments will be built on the upper floor, which can be rented from July.

The property was notarized at a purchase price of 19.2 million and will be added to the portfolio as of July 2020 with an effect on income, the fund says. The annual target rental income is put at 988,000. Directly adjacent to the new building is a chalet, for which "various concepts" are being examined, according to the fund's statement. (ah)