Zurich: Hiag buys site from FCA Switzerland

According to Hiag, the property in Altstetten is around 7,800 sqm in size and is located in the five-storey residential zone. According to Hiag, the site allows for a development with a total floor area of around 16,000 sqm. A preliminary contract has already been signed with a retailer for a rental area of around 1,800 sqm. Hiag describes the site as "a very interesting medium-term development site for around 150 apartments and 2,200 sqm of attractive commercial uses".

The transfer of ownership will take place after the legally and contractually stipulated closing conditions have been fulfilled, the statement continues. The parties have agreed not to disclose the purchase price. (ah)