As part of the further optimisation of the portfolio, the property in Weinfelden was sold on 1st January 2023. Even though the situation was less than favourable, the property was sold for a price that is slightly higher than the market value.
The sale served to minimise the risks, allow an LTV reduction, and generate funds for a development project in Möhlin designed to realise the full potential of a severely underutilised plot.
The vacancy rate was reduced further at the end of the previous year already thanks to successful lettings of around 2 000 m2 in Dietikon, Spreitenbach and Staad. This substantially improved the letting situation and generated additional annual income of some CHF 250 000.
The focus always falls on the optimisation of the operating costs, which has helped to improve the EBIT margin in the previous year. The management mandate for the properties was transferred to H&B Real Estate AG in Zurich on 1st April 2023. Management is convinced that this will result in improved support for the tenants and the properties.