Helvetia: Swiss Property Fund increases net income

The Helvetia (CH) Swiss Property Fund generated net income of CHF 13.54 million in the first half of its financial year, which corresponds to an increase of 18 %. The fund management cites the purchase of current income from the issue of units in the course of the last capital increase and lower rent losses as the reasons for this. The rent loss rate fell from an already low 2.% to 1.3%.

The real estate portfolio increased from 46 properties to 50 properties and the market value from CHF 1.1 billion to CHF 1.3 billion compared to the last annual financial statements as at September 30, which corresponds to an increase of CHF 226 million or 21 %. The acquired real estate portfolio worth around CHF 252 million from the portfolio of Helvetia Swiss Life Insurance Company Ltd was financed with a capital increase of CHF 166 million and debt capital. The fund sold three properties in Sion, Romanel-sur-Lausanne and Basel with a market value of CHF 26.25 million, generating a total capital gain of CHF 0.7 million.

Total income amounted to CHF 8.8 million, compared to CHF 7.6 million in the same period of the previous year. This includes unrealized capital losses in the amount of CHF 5.1 million (previous year: CHF -3.5 million).

Seven purchases and three sales

The following properties were acquired by Helvetia Lebensversicherung

• Adliswil, Grütstrasse 21-31 (residential)
• Au (ZH), Alvierstrasse 27 (residential)
• Basel, Austrasse 19, Holbeinstrasse 48 (Commercial)
• Neuchâtel, Vy d'Etra 30/44/46, Rue des Cerisiers 32/34 (residential)
• Rapperswil-Jona, St. Gallerstrasse 119-153 (residential)
• St. Gallen, Falkensteinstrasse 52/54/54a (residential)
• Winterthur, Guggenbühlstrasse 119-127, Stadlerstrasse 150-160 (residential)

The fund has sold the following properties:

• Basel, Gundeldingerstrasse 131 (residential)
• Romanel-sur-Lausanne, Chemin de la Covatannaz 16 (residential)
• Sion, Avenue de Pratifori 5/7 (Mixed) (aw)