SF Commercial Properties Fund remains on growth track
The SF Commercial Properties Fund aims to grow in the current year by examining acquisition opportunities. According to the fund management, the 2021 financial year was successful.
Despite challenging leasing market conditions, the 2021 financial year was a stable one, writes Swiss Finance & Property in publishing the annual results of the SF Commercial Properties Fund. In St. Gallen, the fund acquired a property with long-term leases in spring 2021, and leases and contract extensions were also concluded for space of around 30,000 sqm in the year under review. The vacancy rate fell from 17.2% to 15.7%, and the average lease term is 5.47 years (previous year: 5.81 years).
The SF Commercial Properties portfolio comprises 18 properties with a market value of 326.7 million (previous year: 306.8 million). The target rental income increased from 19.8 million to 20.5 million due to the acquisition in St. Gallen. The gross yield is estimated at 6.28%. The share of commercial space is around two thirds; the share of office space is 26.7%.
In the current year, SF Commercial Properties will continue its "forward strategy", Swiss Finance & Property announces. To this end, acquisition opportunities are being examined. The fund management expects a higher consolidated net income due to the improved letting situation and the currently good demand for rental space. The aim is to ensure a stable distribution. In addition, the fund is planning a selective portfolio restructuring, with the aim of increasing the number of uses in the logistics, commercial, warehouse and industrial sectors. (ah)
