SPA Immobilien Schweiz expands portfolio and reduces vacancy rate
According to provisional figures, the investment group "SPA Immobilien Schweiz" closed the 4th quarter with a cumulative investment return of 4.15%. The comparable figure for the previous year was 6.40%. Meanwhile, the portfolio grew.
Completed acquisitions and investments in projects led to an increase in the fair value of real estate from CHF 2.97 billion to CHF 3.67 billion during the year. The contribution from capital gains on valuation amounted to CHF 26.2 million. Meanwhile, the vacancy rate declined - from 3.44% to 2.67% - while target rental income increased by 23% to CHF 111.3 million. The largest increase in target income in absolute terms was recorded by the "Leuenhof" property on Bahnhofstrasse in Zurich as a result of rental agreements concluded with luxury goods brands.
Other highlights include the acquisition of a residential and commercial property in Huttwil (BE). The apartment building, which was built in 2021, has 1.5- to 4.5-room apartments and is almost fully let. A Coop retail space is located on the first floor. In addition, the land purchase for the "Taubenloch" development project in Biel (BE) was completed. A high-rise building with around 70 apartments on 19 floors and commercial space on the first floor is to be built. Construction is scheduled to start at the beginning of 2023.
Mandate with Swiss Prime Site Solutions extended
In addition, the Swiss Prime Investment Foundation announces that it has extended the mandate agreement with Swiss Prime Site Solutions AG for management and investment advisory services, which ran until the end of 2023, ahead of schedule by a further four years. For investors, the fee will be reduced to 0.29% as of the beginning of 2023.
The definitive annual report with all key figures will be published at the beginning of April. (aw)
