Geneva: Turidomus buys Bongénie department store

As Turidomus announced at the end of September, the purchase of the central property at 30-36 Rue du Marché and 21 Rue de la Rôtisserie had already taken place in July of this year. The seller of the department store in Geneva's largest shopping street, directly opposite Place du Molard, is the Brunschwig family. A new lease has been signed with them for at least the next 20 years, according to Turidomus.

Behind the three historic façade sections of the department store are 7,500 sqm of rental space on a total of nine floors, including a basement. Under the triple-net lease agreement, the tenant will not only maintain its tenant fit-out but also the basic fit-out of the property in top condition, the investment foundation further announces. The investment volume amounts to a total of 220 million, which was divided between the investment groups Proreal and Urban & Mixed-use within the Turidomus Investment Foundation at 50% each. (ah)