Swiss Prime Investment Foundation invests in Biel
The Swiss Prime Investment Foundation has acquired the Taubenloch site in Biel. A development with a high-rise residential building is to be built there from next year.
The Taubenloch property is located where the Schüss River flows out of the Taubenloch Gorge. As shown in the report of the Swiss Prime Investment Foundation (SPA) for the third quarter of 2022, the investment foundation purchased the site in the fall. Work on the Taubenloch development is scheduled to start in January 2023. A high-rise building with 70 high-quality apartments on 19 floors is being built, with commercial space planned for the first floor. Another four-story building is also planned. Its use is still open and is currently being planned, writes the SPA in its quarterly report. Small apartments, a hotel, assisted living apartments for senior citizens or a nursing home are conceivable. Until a decision is made, pop-up restaurants will be located in the vacant space. The superstructure will also include a park.
Investment return of 3.21 percent
SPA further announces that the SPA Immobilien Schweiz investment group closed the third quarter with a cumulative investment return of 3.21% (Q3 2021: 4.96%). The fair value of the portfolio climbed to CHF 3.6 billion (Q3 2021: approx. 2.9 billion). The vacancy rate decreased from 3.48% to 2.67%.
The highlights of the quarter include the fact that the investment group was able to take on the Ringier Group's staff pension foundation as an investor through a contribution in kind. Its portfolio comprises properties in the cantons of Aargau, Berne, Geneva, Lucerne, Zug and Zurich. The residential portion is 85%. In Nussbaumen near Baden (AG), the investment group has notarized a residential and commercial property, and in Tribsche Lucerne, the first concept living & working has been put into operation with operator Elron. All ten apartments have been rented out, and the co-working space has also got off to a successful start. (ah)
