Annual Report 2011-2012

Vacancy rate

Overall, the vacancy rate did not change. While the vacancy rate strongly regressed in Switzerland, the vacancy rate in France has increased. Encouraging is the reduction in Germany.

Züblin remains focused on the objective of transforming the potential of vacant areas into rental income. The success achieved with completed projects is encouraging us to forge ahead on the chosen path. Discounting the seven largest vacancies, the vacancy rate would be a mere 9.9%. The value of these seven properties currently amounts to 2.2% of the total portfolio.

Vacancy rate monetary

Vacancy rate monetary
  as of 31.3.2012 as of 31.3.2011 as of 31.3.2010
Switzerland * 5.3% 11.4% 6.0%
France * 13.5% 6.2% 5.9%
Germany 13.5% 15.5% 17.6%
Netherlands 13.0% 13.7% 12.6%
Total 11.4% 11.4% 11.0%

* without renovation projects

Income generating potential of vacancies

Income generating potential 
of vacancies
in CHF million Annual rental income Market rent of vacancies Potential annual rental income
       
Switzerland * 16.5 0.9 17.4
France * 12.3 1.9 14.2
Germany 23.5 3.7 27.2
Netherlands 11.2 1.7 12.9
Total 63.5 8.2 71.7

* without renovation projects

Active asset management

Vacant properties for sale

in thousand CHF Projected annual rental income Market rent of vacancies Vacancy rate Comments
Hannover, Badenstedter Strasse 128 434 434 100.0% Property for sale

In the financial year 2011/2012 two out of three totally vacant objects were sold.

Rental objects (long-lasting vacancies)

Netherlands Diemen, Diemerhof 10–12 245 100 40.9% Züblin Netherlands moved their office to Diemen and aspire to full letting
Utrecht, Kaap Hoorndreef 10–14 387 155 40.1% Conversion and scheduled for selling
Zeist, Huis ter Heideweg 30–40 626 263 42.1% It could not be prevented that a large tenant moved out
         
Rental and vacant properties 1 797 1 057 58.8%  

Total

The number of properties and the vacancy rate of difficult-to-rent properties could be reduced slightly.

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Annual Report 2011-2012

Annual Report 2011-2012 (8.16 MB)