Novavest divests itself of commercial properties
Novavest Real Estate AG intends to sell two of its commercial properties in order to focus more strategically on the residential segment.
The properties are located in Dielsdorf and Adliswil in the canton of Zurich. The property at Soodring 13/13a in Adliswil is used purely for commercial purposes and had a vacancy rate of 13.6 percent as at mid-2016, according to Novavest. The DCF valuation by Wüest & Partner was CHF 14.46 million as at June 30, 2016.
The second commercial property at Industriestrasse 20 in Dielsdorf is used in its entirety by BMW Schweiz AG. This property is held by BD Real Estate GmbH, a fully consolidated subsidiary (100% equity interest) of Novavest. Wüest & Partner valued the property at CHF 31.70 million as at June 30, 2016. (ah)
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