SF Urban Properties buys in Basel

According to SF Urban Properties AG, the new acquisition is a fully let residential property with a commercial ground floor at Kirchgasse 2-2A/Riehentorstrasse 28 in Kleinbasel, around 100 metres from Wettsteinplatz. The ground floor is used as retail space, while the upper floors contain residential units, mainly 1- to 2-room apartments.

The leasable area is 2,579 sqm. The property has a market value of CHF18m and the gross yield is put at 3.3%. The acquisition will be accretive to earnings on 1 June 2021, according to SF Urban Properties. (ah)