Basel: UBS AST-KIS leased to McDonald's
The UBS AST-KIS investment group has leased the first floor retail space of the Centralbahnstrasse 9 property in Basel to the McDonald's fast food chain.
The building at Centralbahnstrasse 9 is directly opposite the planned second entrance to Basel's SBB train station. The property is in an excellent pedestrian location, and with the completion of the west wing, foot traffic is expected to increase further, according to UBS Real Estate Switzerland. Centralbahnplatz, one of the most important transport hubs for streetcars and buses, is in the immediate vicinity.
A long-term lease agreement has been signed with McDonald's Switzerland and a new business partner has also been acquired for Real Estate Switzerland, UBS further announces.
The catering space now leased is on the first floor, plus preparation and storage areas in the basement. Offices and apartments are located on the upper floors of the building. The Beschle confectionery used to be located in the store. Over the next few months, the property will be partially remodeled and renovated; the McDonald's restaurant is scheduled to open in the fourth quarter of 2019. It will seat 160 guests.
The UBS AST Commercial Real Estate Switzerland (UBS AST-KIS) investment group has 41 properties in its portfolio as of September 30, 2018. The total fund assets amount to CHF 687.2 million. (ah)
