Basel: BASF rents in the Klybeck area
BASF is keeping its Swiss headquarters in Basel's Klybeck district, but will move to a new office building. To this end, the chemical company has signed a long-term lease agreement with Swiss Life.
As Swiss Life and BASF Switzerland jointly announce, Swiss Life will comprehensively renovate the K-25 office building on Klybeckstrasse by 2024, and BASF will then move from its current headquarters to the newly designed building. According to the parties, they have concluded a long-term lease agreement for this purpose.
Since 2019, Swiss Life has owned the part of the Klybeck site that previously belonged to BASF. The chemical company had sold the 120,000 sqm site to the insurer and initially leased back an office building. At the time, it was said that the office workplaces would be housed in a rented property in the Basel area in the medium term.
Swiss Life sees BASF's decision to remain in Klybeck as an important step in the transformation of the area. Over the next few years, Klybeck is to become a new urban district with sustainable, high-density living and working space.
The second property owner of the Klybeck alongside Swiss Life is Rhystadt (formerly Central Real Estate Basel AG), which is backed by Baloise, Credit Suisse Investment Foundation, J. Safra Sarasin Investment Foundation and several Swiss pension funds. The investment company bought a 160,000-square-foot section of the site from Novartis in 2019. The two landowners are currently working with the canton of Basel-Stadt on the urban development model that will form the basis for further planning work. (ah)
