Novavest buys in Illnau and Frauenfeld

In the municipality of Illnau-Effretikon, Novavest has acquired a residential property consisting of three apartment buildings. Two of them were newly built in 2012 and one was completely renovated in the same year. The property comprises 13 residential units (2-, 3- and 4-room apartments, some of them maisonettes) and four smaller office spaces with a total of 1,445 sqm of rental space and an additional 19 parking spaces. The investment for the purchase of the residential property amounts to CHF 8.7 million, the target rental income to approximately CHF 390,000 per annum. The notarization of the property and the transfer of ownership already took place at the end of November 2015.

The second newly acquired residential and commercial property is located in the old town of Frauenfeld and contains 18 residential units (1-room apartments and two 2.5-room attic apartments) as well as retail space on the first floor, which is rented out as a restaurant business with storage space. The property was built in 1899 and in 2012 was demolished down to the foundation walls and completely rebuilt. The total rental area is 604 sqm. The target rental income is around CHF 250,000 per annum; the investment for the purchase of the property amounts to CHF 4.85 million.

Novavest Real Estate AG, headquartered in Zurich, specializes in the management and development of properties for purely residential use and for office and commercial use, as well as in new construction projects in these segments. The real estate portfolio comprises properties located in the catchment area of the centers of Basel, Bern, Aarau, Zurich, Winterthur and St. Gallen and on their connecting axes. (ah)