Altenrhein: Swisscanto sells the "Werkplatz
The real estate fund Swisscanto Responsible Swiss Commercial is disposing of the Altenrhein site, one of the largest properties in its portfolio. The most important user is Stadler.
Werkplatz Altenrhein at Dorfstrasse 1-3 in Altenrhein (SG) dates back to 1926, and the site was once home to a Dornier aircraft factory. Since then, it has been steadily expanded and today the industrial and commercial site has 25 buildings with 62,700 sqm of usable space as well as its own railway siding. The buildings are mostly used for production purposes and as workshops, but there are also office buildings and warehouses. For years, the most important user of the site has been Stadler Rheintal AG. Last year, Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial extended the lease with Stadler by ten years until 2030. The company uses 32,000 sqm of industrial and commercial space.
As Swisscanto announces, the sale of the Altenrhein plant site was publicly notarised on 9 December 2021; the transfer of ownership should be completed by the end of the month at the latest. The market value of the property is estimated at CHF 71 million. The fund intends to reinvest the proceeds from the transaction in several commercial properties. The law firm Baker McKenzie advised Swisscanto on the legal and tax aspects of the sale. (ah)
