Streetbox Fund with total success of 7 million francs
The Streetbox fund, which specializes in modular industrial buildings, earned less in the last financial year than in the previous year, but this was mainly due to lower sales profits.
The "Streetbox Real Estate Fund" investment fund closed its financial year on March 31 with total income of CHF 11.8 million. According to Streetbox, the marginal decline of 0.3% is due to a decrease in rental income of 2.2%, which was largely offset by income from the installation of photovoltaic systems.
Higher tax levies led to an increase in the cost balance of CHF 8.2% to CHF 5.81 million. The net result fell by CHF 7.43% to CHF 5.97 million. Because high realized capital gains of around CHF 6.6 million were achieved in the previous year, the realized result fell from CHF 13.1 million to CHF 6.2 million year-on-year. Including unrealized capital gains of CHF +1.5 million (previous year: CHF +2.1 million), the overall result was CHF +7.1 million (previous year: CHF 14.6 million).
The rent default rate increased significantly in the last financial year from 9.24 to 17.8%. The increase is mainly due to the recognition of various outstanding rent receivables, according to the statement. "The losses were well provided for in previous financial years, which is why their recognition has no significant impact on the fund's net result," the fund management company continues. The vacancy rate increased from 7.98 to 9.76%. (aw)
