Attractive purchases and a strengthened property portfolio

Swiss Prime Site

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PRESS RELEASE

Four purchases totalling around CHF 90 million

In late 2019, Swiss Prime Site Immobilien made attractive investments totalling around CHF 90 million. This includes two purchases in the canton of Basel-Landschaft. The properties are fully let. Both plots have major potential for future project developments. The company has also been awarded two bids in the cantons of Bern and Zurich. In Zollikofen (Bern), Swiss Prime Site Immobilien will be the new owner of a modern, completely let office property effective March 2020. In Uster (Zurich), the company has won the bid for a plot adjacent to an existing property that is already in the portfolio. This consolidation greatly enhances the development potential of the site. Peter Lehmann, CEO of Swiss Prime Site Immobilien, commented: «With these purchases, we are expanding our portfolio with modern properties in prime locations and also securing major potential for future project developments.»

Project completions and successful sales of commercial properties in condominium ownership

By the end of 2019, the projects YOND (Zurich) and Schönburg (Bern) were transferred to the company’s portfolio with occupancy rates of over 80% and around 95% respectively. Following the 2017 sale of two complete buildings to the Wilsdorf Foundation, Swiss Prime Site Immobilien has, as planned, achieved further sales of commercial properties in condominium ownership in the large-scale Espace Tourbillon project in Plan-les-Ouates (Geneva). Various transactions with local SMEs were conducted between August and December 2019. This means that around 40% of the third building earmarked for sale has been sold. «We are on track with the development of our projects. With high occupancy rates and the interest in our innovative products, such as commercial properties in condominium ownership for SMEs, we are confident that we have correctly anticipated customer needs», explains Peter Lehmann, CEO Swiss Prime Site Immobilien.