Basel: Canton and PKBS buy Syngenta site
The Canton of Basel-Stadt and the Basel-Stadt Pension Fund PKBS are acquiring the Syngenta site on Schwarzwaldallee in a joint venture. They have been awarded the contract in a bidding process.
Syngenta is selling the site of its headquarters in Basel - as it has already done at other sites - by way of a sale-and-leaseback transaction. The Group is leasing the majority of the property for further use for at least ten years. The parties have agreed not to disclose the purchase price. Syngenta was exclusively advised on the transaction by the Capital Markets team of CBRE.
The newly acquired Syngenta site is "a high-quality, well-developed business site", according to the canton of Basel-Stadt. In addition to the existing properties, which will continue to be used by Syngenta, it offers a free area that can be developed immediately with investors. One of the office buildings will also become available for a new use. The canton therefore sees "a very good prerequisite" for developing the entire Rosental site from a single source.
In 2007, Syngenta sold parts of its former site to an international group of investors and kept only the eastern part at the corner of Schwarzwaldallee and Rosentalstrasse. The part of the site sold at that time was acquired a few years ago by the canton of Basel-Stadt and is now the Rosental site. (ah)
