Immofonds buys in Winterthur

The property at Tössfeldstrasse 35-37 in Winterthur consists of two buildings constructed in 1989 and 1992. The centrally located buildings comprise around 10,000 sqm of office and commercial space, which is predominantly let to companies from the technical and public sectors, according to a statement from Immofonds. The property also has three apartments and an underground garage with 203 parking spaces.

According to the fund, the purchase price was "in the mid double-digit millions"; the property was in good condition and no major investments were expected in the next ten to fifteen years.

The buildings are located in a four-storey residential zone in the immediate vicinity of the ZHAW University of Applied Sciences and within walking distance of Winterthur railway station. According to Immofonds, the property therefore offers "very attractive development and conversion potential in the residential direction", which should be realised in around 15 years. As the fifth largest city in Switzerland, Winterthur is growing at an above-average rate. Over the next 20 years, the population is expected to increase by 24%.

In Zurich-Höngg, Immofonds wants to increase the density of its property at Bombachstrasse 4, Imbisbühlstrasse 101-109, which was built in 1950. An additional building in timber construction is planned. Four terraced single-family houses each with 5.5 rooms (100 sqm) and 2.5 rooms (46 sqm) are to be built in a compact structure. The planning application was submitted in June this year. Construction is scheduled to begin in early 2021, and the apartments should be ready for occupancy in October 2021. (ah)