Migros puts Glattzentrum up for sale
The Federation of Migros Cooperatives is looking for new owners for the Glattzentrum shopping center in Wallisellen (ZH).
Rumours of an imminent sale of the shopping centre had already been circulating, and now the Federation of Migros Cooperatives (MGB) is officially announcing that it is starting the sales process.
According to the MGB, the Glattzentrum in Wallisellen, Zurich, generates sales of around CHF 600 million on 53,000 sqm of retail space. This makes it one of the largest and most popular shopping centres in Switzerland. MGB both owns the property and operates the center. Migros also operates shops in the Glattzentrum. These are to remain in place after the sale.
The background to the sale plans is Migros' strategic orientation: the company wants to invest more in raising its profile in its core business, expanding the convenience segment, digital sales channels and the healthcare sector. Real estate management, on the other hand, is not a strategic focus of MGB. The decision to sell Glatt does not affect the Migros Group's other shopping centres, the MGB stresses in its statement. (ah)
