Basel: Municipality buys exhibition hall and musical theater

Exhibition Hall 3 and the Musical Theater were previously owned by MCH Swiss Exhibition. The exhibition company has reached an agreement with the local authority as the building lease provider that the municipality will acquire the two properties with retroactive effect from January 1, 2020. The purchase price is based on a jointly arranged external appraisal and is in the low single-digit million range, according to the Basel government council.

For the Musical Theater, the local authority takes over the existing rental and operating contract with Rent-a-Theater. Exhibition Hall 3 will be leased back from MCH Swiss Exhibition and used for exhibition purposes until the end of 2025. Until then, the local authority intends to press ahead with plans for a new development of the plot. (ah)