Ad-hoc announcement according to Art. 16.4 LR BX Swiss AG
Crissier, 12.05.2023 – Patrimonium Urban Opportunity AG (or the “Company”) presents its first annual report as a publicly listed company. In a challenging real estate environment made of rising interest rates and inflation, the BX Swiss-listed company increased rental income by more than 25% and net asset value per share by 5.43% to CHF 2.874 as of 31.12.2022. The Company invests for the long term and will continue to prioritize the creation of additional value in its existing portfolio.
During 2022, Patrimonium Urban Opportunity AG managed to further solidify its portfolio. The asset management team continued its letting effort by signing new leases and acquiring new commercial tenants for their surfaces. Portfolio rental income increased significantly by more than 25% to CHF 10.75 million. Vacancy rate decreased to 6.11%. With a revaluation gain of CHF 2.54 million, the Company posted a net profit of CHF 5.64 million for 2022.
In 2022, the market value of the properties of the portfolio increased from CHF 222.9 million to CHF 237.9 million. This increase reflects the revaluation gain, as well as the ongoing investment and main renovation projects for the properties in Bussigny, Mochettaz 7 and Rente 26, and Geneva, Voie Creuse 16. As a result, the Net Asset Value of the Company increased from CHF 2.726 to CHF 2.874 as of 31.12.2022.
The Company’s construction project at Mochettaz 7 in Bussigny started in the course of the summer for a delivery expected in summer 2024. Large parts of the new building will be made of wood, a
natural CO²-accumulator, and reduce the building’s carbon footprint. The construction works of this state-of-the-art office building progress as planned and a majority of the 3’200m² of rental surfaces are already rented out.
At beginning of the year the Company became the legal owner of an additional land plot in Bussigny, en Rente. The parcel has a total area of more than 25’000 m², with a constructable potential of more than 20’000 m² of surfaces.
Finally, at the end of 2022, the Company signed a sale and purchase agreement for an industrial property in Reinach (BL), becoming its legal owner in 2023.
As of 31 December 2022, Patrimonium Urban Opportunity AG’s portfolio consisted of 9 properties, 1 land plot and 1 construction project. The assets are located in the agglomerations of Geneva, Lausanne, and Zürich. The dynamism of these target regions offers ideal conditions to the further long term development of the portfolio.
“The active and interdisciplinary management approach has proved its worth and will remain a central element of the Company’s strategy in the coming years. We have the privilege to invest for the long term and will continue to add value in our acquired properties with pertinent strategies” says Hanspeter Berchtold, Chief Investment Officer Real Estate at Patrimonium Asset Management AG, the delegated Asset Manager.
Patrimonium Urban Opportunity AG is listed at BX Swiss AG since July 18, 2022 (Ticker: PATRI).
For more information and to download the full Annual Report 2022, please visit: www.patrimoniumurbanopportunity.ch