Swiss Prime Site sells parts of the new major Geneva project
Swiss Prime Site Immobilien is selling two buildings of what it claims is currently its largest real estate project, "Espace Tourbillon" in Geneva, to the Hans Wilsdorf Foundation.
Swiss Prime Site is realizing a new commercial and administrative center and a logistics site in the Plan-Les-Ouates industrial zone (ZIPLO) in Geneva to meet the continuing strong demand for jobs in the region. The real estate company acquired the building land in 2009 and then developed the major project together with the Geneva architects Brodbeck & Roulet.
Espace Tourbillon" will provide a total of 95,000 square meters of floor space in five buildings, each with seven upper floors and three basement floors. The commercial and administrative center will have an underground logistics network providing direct access to all buildings. Implenia has been commissioned with the execution of the project as a total contractor. According to the construction company, the gross construction sum totals around CHF 300 million.
Swiss Prime Site has found a new owner for two of the five buildings: It will hand over the two buildings, fully developed and turnkey, to the Hans Wilsdorf Foundation. The foundation will make the properties available to "important social institutions of the Canton of Geneva," Swiss Prime Site announces.
The building permit became legally binding on June 8, 2017. The now announced sale of a large part of the project of 35,000 sqm is an important milestone from Swiss Prime Site's point of view. The closing of the sale is expected in August 2017.
The project plan provides for the construction of the real estate in one stage until 2021. Another building of the project can be sold "if there is interest and demand", the real estate company informs.
