Sustainable Real Estate: Fund increases rental income by 10%
Two new buildings and rent increases in existing properties contributed to the increase in rental income. There was also a considerable increase in profit.
The Sustainable Real Estate Switzerland real estate fund closed the 2023/24 financial year with an increase in rental income of CHF 9.7% to CHF 17.3 million. The two new buildings in Vernier and Lausanne Avenue du Grey together accounted for a large part of this with CHF 1.4 million, but higher rental income from the other properties, partly due to the adjustment of the reference interest rate, also contributed to this. Overall, the rental income lost as a result of the sale of the property in Dübendorf on January 30 was more than compensated for by far.
On the cost side, the increase in mortgage interest rates by CHF 53.31TP3k to CHF 2.3 million had a particular impact. Total expenses rose by CHF 11.7% to CHF 10.1 million. The bottom line was a realized profit of CHF 8.3 million (+CHF 5.2%). As the valuation result improved from CHF -5.7 million in the previous year to CHF -1.4 million, total income rose significantly from CHF 2.2 million to CHF 6.9 million.
Only transaction: a sale in Dübendorf
At CHF 356.1 million, net fund assets remained almost unchanged compared to the previous year (-0.2%). The market value of the properties fell by CHF 2.2% to CHF 460.2 million. According to the fund management, this is primarily due to the progress of construction on the new building project in Oensingen on the one hand and a sale on the other. The only transaction was the sale of the property at Überlandstrasse 105/107/108/111 in Dübendorf for CHF 23.7 million. (aw)
