SF Commercial Properties back in the profit zone
Following a realized loss in the previous year, which was influenced by special factors, the fund is now clearly back in the black. Unlike 2024, transactions could take place again in the current year.
The SF Commercial Properties Fund increased its net income by around CHF 5.3% in the 2024 financial year. The vacancy rate fell slightly from 6.9 to 6.8% and the market value of the portfolio as at December 31 was only slightly down on the previous year at CHF 278.2 million. Meanwhile, the gross yield increased from 6.3 to 6.4%. There were no purchases or sales in the financial year. The portfolio still comprises 16 properties.
Overall profit up despite lower valuation
Total income fell slightly from CHF 16.8 million to CHF 16.3 million. According to the annual report, this was due to the sales of the previous year. Total expenses fell from CHF 6.9 million to CHF 6.3 million, while net income rose from CHF 9.9 million to CHF 10.04 million. There was a significant increase in realized income: after CHF -12.3 million in the previous year, the figure was now CHF +9.9 million. In the previous year, sales losses of CHF 22.3 million had dampened the realized profit. The overall result also improved massively, from CHF -10.5 million to CHF +7.0 million. This was despite the fact that the valuation result of CHF -2.9 million was worse than in 2023 (CHF +1.8 million).
For the current financial year, the fund management has set itself the goal of selling unprofitable properties and buying properties with earnings potential. (aw)
