SF Retail Properties expands its portfolio
The SF Retail Properties Fund made two acquisitions and one consolidation in the 2020 financial year. In total, the fund holds properties worth around CHF 805 million.
Swiss Finance & Property Funds AG is satisfied with the course of the financial year: despite the pandemic and the associated restrictions, the SF Retail Properties Fund achieved a good result and was able to broaden its tenant base.
The average term of the rental contracts (WAULT) is a top value of 6.6 years. At the same time, the market value of the now 90 properties had increased from CHF 762.2 million to CHF 804.9 million (as of December 31, 2020). The annual target rental income was reported to be 45.4 million. The net income is put at 26.7 million or CHF 4.39 per unit.
The property portfolio is composed of 90 properties in 20 cantons with leasable areas totaling 227,451 sqm. The vacancy rate as of December 31, 2020 has decreased by 0.1 percentage points to 7.1% compared to the financial statements as of December 31, 2019.
In connection with the Covid 19 pandemic, tenants were granted rent reductions through waivers or deferrals amounting to 1.0 million (around 2.2% of the target rental income). At the same time, extensions and new contracts with an equivalent value of around 25 million had been signed.
In the next financial year, the portfolio of the SF Retail Properties Fund is to be enlarged and further developed. According to the fund management, some properties are already in the examination phase and would be purchased with the existing funds. (ah)
