Zurich: City buys commercial site for a three-digit million sum

The City of Zurich is to become the owner of a 35,000 square meter commercial site in Zurich-Seebach. The bid was accepted in a bidding process and the purchase price is CHF 140 million, the city announced. The seller is currently using the site as a business location, with some buildings rented out to third parties. The previous owner is leasing the entire site back until at least 2030.

The majority of the site is located in the industrial and commercial zone, with 9,900 square meters in the residential zone. According to the City of Zurich, the size, potential uses and transport links of the site would offer good long-term prospects for the business. According to the city, most of the buildings on the site date from the 1960s and are in average to good condition. The current commercial and office uses will not change for the time being. (ah)