Züblin: Letting successes in the first half of the year

Züblin Immobilien Holding AG writes in a statement that it can look back on a "solid first half of 2021/22". Due to successful lettings in the properties Holbeinstrasse in Zurich and Torre in Baden, the vacancy rate fell from 15.7% to 12.6%. The weighted average lease term (WALT) was 3.5 years as of the reporting date. The annualised rental income increased by 4%.

As in the same period of the previous year, the bottom line was CHF 2.0 million, while net operating income amounted to CHF 3.8 million, down CHF 12% on the previous year due to the expected vacancies during the re-letting phase at the Holbeinstrasse property. For the first six months of the current financial year 2021/22, earnings per Züblin share were CHF 0.61 (previous year: CHF 0.60).

The portfolio continues to comprise six properties: Five are located in the Zurich economic area, one in the city of Berne. The total value after investments increased slightly by 1.1 million in the reporting period due to valuation factors and now stands at 219.8 million.

Demand for office space in the city of Zurich, in Egg and in Baden is on the rise. Züblin is also pleased with the growing interest in the space on offer at the Berne property, it said, commenting on the outlook for the rest of the financial year. (ah)