Ina Invest completes purchase in Geneva

Ina Invest announced the acquisition of the portfolio property at 54-58 Rue du Grand-Pré in Geneva last year, and the acquisition was completed on March 30, 2022. According to the real estate company, the purchase price amounts to CHF 60.5 million.

The property covers three parcels totaling 2,821 sqm, and the buildings on them have a net leasable area of 6,356 sqm and are leased. 95% of the space is commercial uses, and the remaining 5% is residential. The buildings generate an annual target gross rental income of currently more than 2 million. The property is located only ten minutes from the Geneva-Cornavin train station and around 15 minutes from Geneva airport. The property received the highest rating of "5.0 Excellent" from the consulting firm Wüest Partner in its location rating.

According to Ina Invest, the buildings are located in a mixed zone that allows 100% residential. Therefore, the property offers development potential: By adding more floors and developing a utilization reserve in the inner courtyard, the real estate company intends to increase the usable space by more than 1,500 sqm to a total of over 7,800 sqm in the coming years. Apartments are to account for around 45% in the future, with the remainder continuing to be used for commercial purposes. (ah)