Patrimonium invests in Baar
The Patrimonium Swiss Real Estate Fund (PSREF) and the Residential Real Estate Switzerland investment group of the Patrimonium Investment Foundation have acquired the commercial site "Spinnerei an der Lorze" in Baar. The site comprises a leasable area of around 33,000 sqm and is held in co-ownership.
The property is located in the eastern part of the municipality of Baar in the canton of Zug. It consists of two building parts, an old building from 1903 (renovation 1994/95) and a new building built in 1988-89. Both buildings are used as offices, commercial and retail space. The listed old building formerly housed the Lorze spinning mill, which played an important role in the industrialization of Baar.
The tenant base is broadly diversified with more than 70 tenants and has anchor tenants with strong credit ratings in Athleticum Sportmarkets AG and One Training Center AG (Migros Genossenschaft Luzern). The buildings have excellent transport links. There are a total of 525 parking spaces on the site.
In order to increase the attractiveness of the area, a new neighborhood plan is to be developed in the medium term, which should also allow for the construction of apartments. (ah)
