Espace Real Estate: Higher profit in H1
Operating profit excluding valuation result increases by 4.6% in the first half of the year. The company acquired a residential project in Solothurn.
Espace Real Estate increased its profit for the period including revaluations and income from disposals from CHF 11.4 million to CHF 15.5 million in the first half of the year. The profit was influenced by a valuation result of CHF 6.0 million (H1 2024: CHF 0.8 million). Operating profit for the period - excluding valuation and gains on sale - rose by CHF 4.6 % to CHF 10.4 million. The vacancy rate remained stable across all types of use at 2.7 %. While a decline to 1.3% was recorded in the residential segment, the vacancy rate in the commercial segment increased slightly to 4.2 %.
In the first half of the year, the company acquired the "Hofgarten" project in Bellach, which has planning permission. The planned development in Solothurn with 80 apartments is expected to generate rental income of CHF 1.5 million. Construction is scheduled to start this year and completion is planned for the end of 2027. Espace also reportedly acquired a plot of land in the center of an agglomeration municipality near Solothurn. A project for intermediate living is being developed there, which is based on the "Aging in Place" concept. The building application is planned for this year.
Together with the investments made in the first half of the year, this results in a total portfolio value of CHF 869.3 million (end of 2024: CHF 838.7 million). (aw)
