Schroder Immo Plus reports higher overall performance

The Schroder Immo Plus fund significantly increased its total income to CHF 65.2 million in the 2023/24 financial year compared to the previous year (previous year: CHF 30.2 million). This was announced by the fund management company, Schroder Investment Management (Switzerland) AG, on the basis of unaudited figures. At CHF 63.7 million, net income was identical to the previous year, while the return on investment increased from 1.9% to 4.3%. At around 1.2%, the rental loss rate remains at a very low level. The weighted average remaining lease term is 6.6 years.

UBS real estate sold

The fund management company also reported that a number of measures were implemented to improve the risk profile, particularly in view of the merger between Credit Suisse and UBS. Against this backdrop, two properties in Vevey and Morges were sold at the beginning of the year and another UBS property in the new financial year. Following UBS's gradual departure from the Rue de Lausanne property in Geneva from the beginning of 2025 and the associated new lettings, the UBS share in the portfolio will be reduced to around 6% of target rental income, according to the statement.

Major acquisition in Zurich about to be completed

The life science sector is to be more strongly represented in the portfolio in future. The acquisition of a further life science property in the canton of Zurich with a contract term of 25 years is planned. The purchase agreement for the single-tenant property with a market value of around CHF 170 million and a net yield of around 4% has already been notarized. "The transfer of ownership will take place as soon as the tenant has waived its right of first refusal," writes Schroders. The leverage ratio will increase to around 25% as a result of this transaction.

Schroders will announce the audited annual financial statements on November 19. (aw)