Bern region: Wüest Partner study on the conversion of offices into residential space

Over a longer period, Wüest Partner investigated how much office space was advertised. In Köniz, this was almost 17 percent of all space (based on figures from the building register), in Belp around 14 percent. By comparison, new tenants were sought for only 4.4 percent of office space in Bern, and even fewer in other municipalities such as Muri, Ostermundigen and Ittigen.

In the view of Alain Chaney, Managing Director of Wüest Partner Bern, conversion to residential space is most likely to be possible in Köniz and Belp. Prices for new apartments in the municipalities are significantly above the level of office space in need of refurbishment.

Overall, however, the conversion potential in the Bern area is not all that great, says Chaney. In many places, the price differential between residential and office space is too small, which is why conversion is usually not profitable. According to calculations by Wüest Partner, income after conversion would have to be 100 to 175 CHF/sqm/year higher than before in order for the conversion costs of 2,000 to 3,500 CHF/sqm to pay off, says Chaney. Older office spaces in good residential locations are particularly interesting for conversions.

A major conversion project could be in the offing in Köniz: The former headquarters of construction company Losinger - two large office buildings on Sägestrasse - has been vacant for several months. Wincasa, which manages the buildings, has been able to find new tenants for the 6,600 square meters of office space and 2,300 square meters of archive space, according to a report in the Bernese newspaper have not been found so far. New utilization concepts are therefore being examined together with the owner Axa Winterthur. Conversion into apartments is also being considered. From the point of view of the Köniz property management, the building, which is in an excellent residential location, would be well suited for retirement apartments.