PSP Swiss Property sells railway station site in Rheinfelden
PSP Swiss Property sold the Bahnhofareal residential project in Rheinfelden on September 1. According to the company, the background is a portfolio streamlining and the focus on the core segment of commercial real estate.
According to PSP Swiss Property, the approximately 8,300 sqm property with two existing buildings was sold for CHF 16.7 million. PSP Swiss Property adds that it owns further development projects which it will realize itself. These projects are part of the organic growth.
The sale of the residential project in Rheinfelden had been announced some time ago, and it has also been taken into account in the recently published forecast for fiscal 2018. Accordingly, Immobilien-AG continues to expect Ebitda (excluding valuation effects) of 240 million and a vacancy rate of less than six percent as of year-end 2018.
According to various local media reports, the buyer of the site is the Realstone investment company. The city of Rheinfelden, which has been renting the site for many years, also bid, but did not win the bid. According to information from the New Fricktaler Newspaper Realstone intends to continue the project and is planning rental apartments as well as commercial and service space there. (ah)
