Patrimonium Urban Opportunity increases operating income
Patrimonium Urban Opportunity AG (Paturbo), freshly listed on the BX, increased operating income by more than 25% in H1.
While operating income had amounted to CHF 4.15 million in the same period of the previous year, CHF 5.23 million was now generated. Net income before revaluation of investment properties tripled, but including the valuation result, net income declined from CHF 1.93 million to CHF 1.71 million.
Additional long-term leases were concluded at the properties in Bussigny (VD), Rente 26 and Geneva, Voie Creuse 16. As a result, the vacancy rate fell from 6.27 to 5.71%. The market value of the properties has increased since the beginning of the year from around CHF 223 million to CHF 227 million, mainly reflecting the investments in the ongoing renovation projects in the two properties mentioned.
In addition, the company reports that it has further expanded its asset base and future project pipeline with the acquisition of a 25,696 sqm property in Bussigny. As of June 30, the portfolio consisted of nine properties in the three metropolitan areas of Geneva, Lausanne and Zurich.
Patrimonium Urban Opportunity AG has been listed on the BX Swiss since July 18, 2022. (aw)
