Swiss Prime Site buys in Winterthur

Swiss Prime Site (SPS) acquires Bellevue-Bau AG, a subsidiary of the Fenaco Landi investment foundation. The company's assets include two land parcels of around 7,500 sqm on which - adjacent to the "Roter Turm" building and directly next to Winterthur railroad station - three properties are located, which were built in 2000 and 2004 respectively.

According to SPS, the three exposed brick buildings with a usable floor space of 22,700 sqm are fully leased and generate a rental volume of CHF 5.4 million per year. Long-term contracts exist with the main tenants Zurich University of Applied Sciences (ZHAW) and Fenaco.

SPS already owns the "Roter Turm" property, which is almost fully leased, according to the company. "With the acquisition of these properties close to the city center, we are bringing together what belongs together. This gives us the opportunity to create an independent, small business center for the city of Winterthur," says Peter Lehmann, CEO of Swiss Prime Site Immobilien. Winterthur as part of the economic region "Greater Zurich Area" is one of the centers on which Swiss Prime Site focuses its investments. The acquisition is particularly interesting because of its location near the railroad station and because the ZHAW is one of the anchor tenants, the company adds.

The purchase agreement was signed and executed on November 30. Swiss Prime Site did not disclose the amount of the purchase price.