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Immo-Flash; Issue 2 2019
Swiss
Edition |
Issue 2, March 2019 | |
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Immo-Flash |
UBS Asset Management's Real
Estate Newsletter
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Highlights |
UBS
Direct Urban1 reduces its vacancy rate
further | |
UBS
Direct Urban managed a further considerable
reduction in its vacancy rate compared to the figure
published at the end of June 2018. At 31 December 2018
(in the half-year financial statements) this stood at
7.7%. Hence the cumulative vacancy rate was cut by
around 2.6% within six months. This is an impressive
interim result, showing that the path chosen by UBS
Direct Urban of pro-actively managing rentals is
continuing to have an impact and that the fund is making
great progress in reducing vacancies. It should also
have a positive effect on profitability in both the
short and medium term. At 11 of the 13 properties owned
by UBS Direct Urban the vacancy rate at the end
of 2018 was at the low level of 1.9%, underlining the
very good quality of the portfolio. The remaining
vacancies are due to two new buildings, which are
currently taking longer to be absorbed by the
market. As well as the good performance
in reducing vacancies, UBS Direct Urban is also
pleased to announce that long-term leases with large
well-known food retailers have been signed in both the
Agy-Centre in Granges-Paccot and Breitenpark in
Rothrist. For further current information
(in German) about UBS Direct Urban please see:
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News bullet |
New
assessment of the Swiss real estate
market | |
The data for last year suggest that values once again
went up in the Swiss real estate market. However, retail
space probably underperformed the general trend due to
the ongoing challenges users are facing. Capital
performance in 2019 is expected to be only slightly
positive, so the income yield will become more
important. For more on our assessment of
the Swiss real estate market see our recent publication
Insight & Outlook 1H19 and its related video
(available both in German and French).
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Institutional
Talk – interviews with the experts on the Swiss real
estate market | |
How important are domestic real estate investments for
Swiss pension funds? What changes have there been in
recent years? Where is the Swiss real estate market
right now, and what are the latest trends in direct and
indirect investments? We tackle these and
other questions in an interview with our experts,
including Urs Fäs, Head of Investment Products and
Elvire Massacand, Fund Manager UBS Foncipars at
Real Estate Switzerland.
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Ambassador
House wakes up to new life | |
After conversion works lasting about five years, the
first tenants were able to move into their new premises
at the start of this year. In January, some 1,200
employees of Sunrise Communication AG occupied their new
central location in Glattpark. The new SV-Group
restaurant is also now up and running. Available too are
the conference rooms rented and offered by ISS
Conferencing, which are also open for external bookings.
The next office to open will be Regus in March, and the
fitness center is scheduled to start operating in April
2019. Ambassador House has a total of
38,000m2 of rentable office space with around
1,100 parking spaces underground and another
11,500m2 or so of rentable storage space.
Open-plan offices, individual offices, horizontal space
with internal staircases or vertical combinations of
space – there are endless options. If you are
interested, see the home page at www.ambassadorhouse.ch.
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First
residents move into the "LimmatSpot" in
Spreitenbach | |
In summer 2016 UBS Sima1 took over the
"LimmatSpot" development project in its portfolio. This
has since become a multi-function construction with 195
apartments ranging from 1 to 5½ rooms, commercial space
and a cinema complex. At the beginning of March 2019 the
first tenants were able to move into their apartments
and the building is gradually coming alive. The
occupancy level of the apartments is pleasing and in
line with expectations, which shows that with this
project UBS Sima has met a great need for modern
living space in the region. The commercial space is
already largely rented. The cinema complex and
restaurants will open their doors in May this year.
For more information on the "LimmatSpot" go
to www.limmatspot.ch.
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"Zentrum"
development in Oftringen ready for
occupation | |
In November 2016, UBS Direct
Residential1 signed the agreement to buy
the "Zentrum" turnkey new construction project on
Zürichstrasse in Oftringen in the canton of Aargau.
After over two years of building work the project is now
ready and the new apartments and commercial premises
were handed over to the tenants on 1 March 2019. Demand
has been pleasing, not least thanks to the very good
location, and the occupancy level was already over 80%
in February. The ground floor commercial space is fully
rented and includes a long-term lease with Aargauer
Kantonalbank. | |
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1
UBS Anfos = UBS (CH) Property Fund - Swiss
Residential Anfos, UBS Foncipars = UBS (CH)
Property Fund - Léman Residential Foncipars, UBS
Sima = UBS (CH) Property Fund - Swiss Mixed Sima,
UBS Swissreal = UBS (CH) Property Fund - Swiss
Commercial Swissreal, UBS Direct Residential = UBS
(CH) Property Fund – Direct Residential, UBS
Direct Urban = UBS (CH) Property Fund – Direct
Urban, UBS AST-IS = UBS AST Real Estate
Switzerland, UBS AST-KIS = UBS AST Commercial Real
Estate
Switzerland
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