Due to the Federal Council’s measures for containing coronavirus, many tenants have had to close their premises. Within the Swiss Prime Site portfolio, this has particularly affected tenants in the retail and gastronomy fields. By the end of April 2020, more than 400 operations got in touch with us with a range of requests. Portfolio Management analysed all these requests and responded to them directly, with the aim of reaching individual agreements with the tenants. The focus is on rent deferrals. Swiss Prime Site supports the Federal Council’s recommendation that politics be kept out of private legal arrangements.
The current situation has been particularly challenging for small companies and the self-employed (SME). Consequently, and in the spirit of partnership, the management of Swiss Prime Site has decided to provide greater support for these tenants. In concrete terms, it will apply the simple, fair proposal put forward by the Verband Immobilien Schweiz (VIS). Under this proposal, small companies and the self-employed whose monthly gross rent do not exceed CHF 5 000 and who have had to freeze operations due to the coronavirus crisis will be entirely exempt from paying net rent (excl. ancillary costs) for the duration of two months. René Zahnd, CEO Swiss Prime Site: «In the political discussion around rents, it is essential that we distinguish between Swiss SMEs whose operations and even existence are under grave threat, and major as well as national and international corporations. We are confident that our solution will provide major support to a significant number of small, local tenants in these difficult times. We are making this important contribution to allow them to remain and thrive in the market and to retain them as loyal tenants and partners.»