Letting successes for the Suisse Romande Property Fund
The fund management company JSS Real Estate Management leased around 6,500 sqm of space in properties belonging to the Suisse Romande Property Fund in the first half of 2020.
New properties were completed and handed over in the first half of 2020, resulting in the leasing of over 6,500 sqm of Minergie-standard space to tenants such as Lidl and Otis, JSS Real Estate Management (JSSREM) says. In addition, numerous renovations are being carried out on existing buildings, which should lead to an increase in the value and income from these properties, it added.
Every opportunity is being taken to optimize the performance of the Suisse Romande Property Fund (SRPF), JSSREM said, with a focus on reducing vacancies and increasing profitability. Negotiations on the disposal of non-strategy compliant buildings are progressing, it added. Proceeds from the sales will be used to reduce debt and to leverage the latent value potential of the existing portfolio. The SRPF also holds a number of properties that offer medium- and long-term development opportunities.
The Covid 19 pandemic is expected to have a negative impact of less than 1.5% of the fund's annual income, the fund management company added. The net asset value as of the end of 2019 is put at CHF 110.68. (ah)
