Berne: SPS sells "Weltpost Park" to Allianz Suisse

Construction of the residential development began in February of this year, and turnkey handover is planned for the first quarter of 2020, Swiss Prime Site announced. According to earlier information, around 170 apartments and commercial space will be built in three buildings. The project also includes an underground parking garage.

Until completion, Swiss Prime Site Immobilien is acting as the general contractor, while Frutiger AG from Bern is the general contractor. The project was designed by SSA Architekten from Basel.

Martin Kaleja, CEO of Allianz Suisse Immobilien, described "Weltpost Park" as an attractive investment and a sensible addition to the real estate portfolio, as the project meets Allianz Suisse's sustainability criteria and is being built in a popular residential district of Bern.

The two contracting parties signed the contracts on May 9, 2018. The closing of the transfer of ownership is expected in June 2018. The amount of the purchase price has not been disclosed, the SPS statement continues.

According to the company, Swiss Prime Site's project pipeline currently comprises around 20 projects. By 2025, over 220,000 sqm of new floor space is to be created throughout Switzerland, with an expected average net yield of over five percent (on cost).