Basel: H&M extends lease in Clara Shopping
The Swedish fashion chain will remain the anchor tenant of the Retai property in downtown Basel for another five years. The property belongs to the Swiss Central City Real Estate Fund.
The Swiss Central City Real Estate Fund reports an important contract extension: According to a statement by the fund, the fashion chain H&M Hennes & Mauritz has extended the lease for the branch at Greifengasse 36/38, Rebgasse 6 in Basel. The terms are unchanged and the extension runs for five years until 2029, the Swiss Central City Real Estate Fund said.
H&M has occupied a good 2,100 sqm of retail space in what is now Clara Shopping since 1985 and is an important anchor tenant of the property. The Swedish company is also one of the largest tenants within the Swiss Central City Real Estate Fund: according to the real estate fund, its rental income accounts for more than 5% of the total rental volume.
Furthermore, the Swiss Central City Real Estate Fund announces that it plans to revitalize the property: The current retail spaces with the associated shopping mall will be revitalized and the base of the facade will be renewed. This is intended to create a "clear identity and addressing" for the retail areas on the first floor and the office floors above, according to the statement. (ah)
