Semi-Annual Report 2013-2014

3. Real estate expense

In the first half of the financial year 2013/2014 eight investment properties were sold (previous year six sales), of which four were non-strategic (two one each in Germany and in the Netherlands) and four were strategic (three in Switzerland, one in France). For three of the investment properties the selling price was equal to or slightly above market value. Three were sold at a profit of CHF 16.6 million, two at a loss of CHF 6.6 million. Net of all selling costs there was a profit of CHF 10.0 million on the sales.

in CHF thousand1.4.2013
to 30.9.2013
to 30.9.2012
Property taxes–143–177
Legal fees–80–144
Bad debts–199–358
External property management fees–149–106
Non recoverable service charges–2 397–3 038
Temporary relocation cost–1 0560
Other property-related expense–722–602
Total real estate expense–4 746–4 425

The increase in real estate expenses stems mainly from non-recurring expenses relating to various renovations in France.

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Semi-Annual Report 2013-2014

Semi-Annual Report 2013-2014 (1.92 MB)