SF Urban Properties Ltd (SFUP) is sticking to its summer forecast of a strong result for the year as a whole. This is due to successful lets and important progress on development projects.
Successful lets
In addition to the letting of new space totalling around 2460 m2 that was announced mid-year, including the offices at Zeltweg in Zurich and on Picassoplatz in Basle, additional rental spaces were successfully marketed thanks to the company's ongoing vacancy management activities.
In the fourth quarter of the year, a contract was concluded with a commercial anchor tenant for a space of around 900 m2 in the property on Binningerstrasse / Innere Margarethenstrasse near the Heuwaage in Basle that was acquired in October 2021. It should be noted that this property was acquired as part of a consolidation and therefore offers the potential to increase the value of the four adjoining portfolio properties.
Reference projects
The new construction project at Klusstrasse in Zurich was successfully completed. The last two transfers of ownership took place at the end of November 2022. Roughly CHF 18.7 million were invested in the project, which has around 1240 m2 of saleable residential space.
A legally effective building permit for the creation of eight owner-occupied flats in the planned new build on Minervastrasse in Zurich was obtained at the end of November2022 .
Work on the new construction project on Fuederholzstrasse in Herrliberg got under way in the fourth quarter of 2022 with the official start of construction. The project envisages the creation of six spacious owner-occupied flats.
Thanks to the progress made on projects and the successful lets in the second half of 2022, the company's performance has been as encouraging as expected.