Procimmo 56 significantly increases rental income in 2023

The "Swiss Commercial Fund 56" investment fund closed 2023 with an increase in rental income of CHF 8.50% to CHF 28.7 million and a decrease in the vacancy rate to CHF 5.43%. The fund's total income rose from CHF 28.8 million to CHF 29.4 million. However, total expenses also increased, from around CHF 10.0 million to CHF 11.3 million. Due to higher mortgage interest rates, the net result fell slightly from CHF 18.8 million to CHF 18.1 million. The dividend remains unchanged at CHF 5.50. The distribution yield rose from 4.58 to 4.63%. However, total income fell from CHF 19.8 million to CHF 14.5 million. This was due to unrealized capital losses of CHF 3.9 million. In the previous year, there had still been a plus of CHF 0.6 million. The fund's debt ratio increased from 22.9 to 26.7%.

The only purchase in the financial year was the acquisition of the property Route de Reculan 1 and 3 in Ecublens. According to the annual report, there were no sales. The fund also let 17,000 sqm with an annualized rental income of CHF 2.5 million. The largest new letting took place at La Coche 1 in Roche (VD) with a total area of 4,081 sqm and an annualized rental income of CHF 408,000. Two purchases made at the end of 2022, in Brig (VS) and Monthey (VS), also had a noticeable impact on rental income.

According to the fund, it has a long-term development potential of more than CHF 120 million. In 2024, the focus will be on sites in the Satigny (GE) and Flamatt (FR) regions. "In order to facilitate the financing of key projects or acquisitions while maintaining an optimal level of debt, the asset manager is currently analyzing the potential for the sale of non-essential properties or projects." (aw)