SPS buys in Lucerne and Baar
Swiss Prime Site AG is adding a shopping center and an office property to its portfolio. The real estate company is acquiring the Schönbühl shopping center in Lucerne and the Swiss headquarters of Partners Group in Baar. The acquisition volume of both properties totals CHF 115 million.
The Schönbühl shopping center at Langensandstrasse 23 in Lucerne was opened in 1967 and is thus considered to be the first Swiss shopping center. In 2008, it was extensively remodeled according to plans by Holzer Kobler Architekturen. It offers around 6,700 square meters of retail space on two levels as well as 330 parking spaces. The Schönbühl shopping center is fully leased and positioned as a neighborhood supply center. Now it is to be expanded with Swiss Prime Site (SPS) as the new owner. According to SPS, retirement living, fitness, health and medical services are planned. As a first step, SPS wants to build over the northeastern part of the parcel with a retirement housing complex. There are also plans to expand the office development with a medical and nursing center.
This acquisition secures a potential development site in an attractive urban location in Lucerne, SPS says. Peter Lehmann, Chief Investment Officer, says: "The site in Lucerne has a high potential for utilization, which will further increase the attractiveness of the location."
At the same time, SPS acquired the Swiss headquarters of Partners Group, a global private markets investment manager, at Zugerstrasse 57 in Baar. The office building comprises 8,300 sqm of office space, plus areas for catering and storage as well as 142 parking spaces. The property is fully leased, was built in 2009/2010 and offers modern office space on four floors. Four access cores allow individual access as well as a separate division of the floor areas for flexible building use. (ah)
