The Residentia team is pleased to announce the purchase of two important properties in Ticino.
The first property occupies a strategic position in the municipality of Massagno, adjacent to the motorway junction, the railway station and the canton hospital, within an easy distance of the town centre. It comprises twenty-one residential apartments and five commercial premises on the ground floor. It also offers significant potential for further development. The property currently generates 410,000 CHF per year, with a potential yield of 5.40%.
The second property comprises two separate buildings in the centre of Rivera, facing the railway station and adjacent to the junction on the Lugano-Bellinzona motorway. One of the buildings is commercial, with a satellite Denner supermarket on the ground floor and offices on the upper floors, while the second building is residential, with six apartments spread over three raised floors. The property currently generates 450,000 CHF per year, but this figure is expected to rise thanks to the refurbishment works that will be carried out in partnership with Denner over the next few months and that should permit a yield of over 6%.
The purchase of both properties – Massagno and Rivera ‒ for 16 million CHF will enable the Residentia fund to increase its rental income to more than 850,000 CHF per year and to optimise the fund’s debt level.
A number of important purchases are planned for the coming months. Information will be provided as soon as they have been formalised.