Swiss Central City buys in Lucerne
The Swiss Central City Real Estate Fund acquires a residential and commercial property in the centre of Lucerne.
According to a statement from fund company Nova Property Fund Management, the centrally located property comprises 136 apartments (1 to 3 rooms) with around 6,300 sqm of lettable living space and around 250 sqm of ancillary residential uses, as well as around 900 sqm of office and commercial space on the ground floor. The property is "virtually fully let". According to SPG Intercity Zurich AG, which placed the property in a closed sales process on behalf of the owner, the residential space is primarily used by students. The property also includes 53 parking spaces. The property was built in 1974 and partially refurbished in 2018.
The transfer of ownership took place on 1 December 2020; the fund company does not provide any information on the purchase price.
With the acquisitions of the reporting year 2020, the real estate portfolio of the Swiss Central City Real Estate Fund reaches a market value of almost CHF 300 million; the target rental income amounts to more than CHF 11 million. (ah)
