Redevelopment of the Leuenhof in Zurich makes progress
The renovation of the Leuenhof on Zurich's Bahnhofstrasse is almost complete. In mid-November 2020, the private bank Pictet will move into rooms on the upper floors of the building, according to the owner Swiss Prime Investment Foundation.
Great progress has been made in recent months on the most valuable property in the portfolio, according to the Swiss Prime Investment Foundation (SPA). The tradition-steeped bank, one of the city's most beautiful Art Nouveau buildings, was completely renovated by architect Tilla Theus and the architectural firm Itten+Brechbühl in collaboration with the cantonal monument preservation office.
In mid-November, the Pictet private bank will begin operations on the upper floors of the historic building. Meanwhile, the repositioning of the historic counter hall on the first floor is underway. There, according to the SPA, room partitions have been removed in order to recapture the architectural splendor of the former counter hall of the former Bank Leu. The view and access from Bahnhofstrasse have been improved and made accessible to the public again.
Currently, the counter hall is being designed as a "multifunctional world of experience," SPA informs. The 800 sqm area is to be used as an exhibition space for luxury brands, a location for gastro concepts and as an event hall in the upscale segment.
At the beginning of November, a long-term lease agreement was signed with an internationally renowned luxury brand for a 550-square-meter section facing Bahnhofstrasse, the investment foundation added. This would significantly increase rental income by 2023 at the latest. SPG Intercity Zurich brokered the lease on behalf of the SPA. A pop-up restaurant will operate in the counter hall as an interim use until mid-February 2021. (ah)
