Intershop sells office building in Zurich
Intershop has sold an office property on Hohlstrasse in Zurich. The purchase price is CHF 114 million.
Shortly before Christmas, Intershop notarized the sale of the Hohlstrasse 190 + 192 property in Zurich. The property is located in the immediate vicinity of the Zurich Police and Justice Center (PJZ) and has found a new owner for CHF 114 million. According to Intershop, the buyer is an institutional investor.
The real estate company acquired the property in 2007. Since then, the surrounding area has improved substantially, for example through the realization of various real estate projects and the extension of the streetcar line, according to Intershop. As a result, the company has been looking at the development potential of the property for about two years. The considerable utilization reserves that can be realized in the medium to long term have been reflected accordingly in the sales price. The company reports that the pre-tax profit contribution amounts to a good 80 million. (ah)
