Lausanne: Intershop buys World Trade Center
Intershop Holding has acquired the World Trade Center Lausanne office complex retroactively as of December 1, 2016. According to the company, the purchase price amounts to CHF 105.5 million.
The World Trade Center Lausanne is located at Avenue de Gratta-Paille 1-2 in the northern district of Blécherette, not far from the airport of the same name and the feeder road to the A 9 freeway. The old town of Lausanne and the main railway station can be reached within a few minutes by car or by public transport.
The property consists of five interconnected building complexes with a total of 18,858 sqm of leasable space, of which around 15,500 sqm is office space. In addition to commercial rental space, the property also offers 1,200 sqm of fully equipped offices and 220 sqm of conference space with full services, e.g. secretarial services. In addition, there are 300 sqm of retail space and around 1,000 sqm for catering, as well as 661 parking spaces.
According to Intershop, the rental income of the property amounts to CHF 6.5 million and is accounted for by several dozen tenants. Rental income of around CHF 0.8 million is also generated by letting fully furnished offices and conference rooms. The target rental income is CHF 7.47 million, and the vacancy rate is 1.7 percent.
Also acquired was the locally based WTCL Services SA, which has eleven employees and is responsible for leasing, administration, facility management and services.
With the acquisition, Intershop substantially increases rental income and strengthens the share of investments in the canton of Vaud, the real estate company says. (ah)
