Swisscanto AST Real Estate Responsible Switzerland invests in French-speaking Switzerland
The Swisscanto AST Real Estate Responsible Switzerland investment group has acquired a top property in Lausanne and achieved important leasing successes.
Around one third of Swisscanto AST Real Estate Responsible Switzerland's properties are located in the Lake Geneva region, and since the beginning of the year the investment group has intensified its commitment in the region. In April 2022, for example, it acquired the property Rue du Lion-d'Or 3/5/7 & Rue de Bourg 26 in Lausanne. The fully leased property consists of two interconnected buildings in an excellent location in Lausanne's old town, according to the Swisscanto Investment Foundations. Almost 95% of the property is used by a major bank, with which a long-term leaseback agreement has been concluded. The remaining 5% are located on the first floor on Highstreet Rue de Bourg and are used as retail space.
The property was extensively renovated in 2005/2006 and, according to Swisscanto, is in good condition with little need for investment over the coming years. The market value of the property is over CHF 80 million. The investment group already owns neighboring properties.
New leases signed in Geneva and Rolle
In the property at 7/9 Rue Pierre Fatio in downtown Geneva, the investment group was able to extend the lease with the previous main tenant for just under 7,000 sqm of office and warehouse space on a long-term basis. This increased both the market value of the property and the WAULT of the portfolio, Swisscanto said.
In the renovated office and commercial property Origami Geneva at Avenue des Morgines 18 in Petit-Lancy, the investment group has re-let around 1,300 sqm of office space to a company from the IT sector. This reduces the vacancy rate in the property by over 20%, according to Swisscanto.
At the A-One Business Park in Rolle, Swisscanto AST Immobilien Responsible Schweiz believes that the ongoing repositioning and marketing offensive is on track: On the 40,000 sqm site, individual single-tenant buildings are to be transformed into an integrative superstructure of multi-tenant properties with flexible space offerings and services, for example for conferences, coworking or fitness. Several large expiring leases have already been extended by five to eight years at an early stage. In addition, a new major tenant has been secured in the form of medical technology company Sophia Genetics. The fast-growing company, headquartered in the canton of Vaud and in Boston, will lease around 5,400 sqm over three floors in a staggered manner for at least ten years. (ah)
