Novavest Real Estate: Acquisitions for 46 million
Novavest Real Estate AG, listed on the Bern Stock Exchange, is expanding its real estate portfolio with the acquisition of two properties in Basel (BS) and Münchwilen (TG).
The newly acquired residential property at Johanniterstrasse 5/11 is located in Basel's St. Johann district, close to the Rhine and the old town. The apartment building contains 57 apartments (one- to four-room apartments) with a total living space of 2,973 square meters as well as 29 underground parking spaces and twelve individual garages. The investment for the purchase of the property amounts to CHF 22.5 million. The transfer of ownership took place on July 1, 2017.
The newly built residential/commercial property at Frauenfelderstrasse 20 in Münchwilen is located opposite the Frauenfeld-Wil train stop within walking distance of shopping facilities, post office, regional bank and pharmacy. The property was developed with three residential buildings, which are connected on the first floor by a sales area and in the basement by a parking garage.
A lease agreement was concluded with Lidl Switzerland for the property in Münchwilen covering the entire first floor (rental area 1,763 square meters) until 2026. The property also comprises 35 residential units with 3,112 square meters of rental space as well as 67 underground parking spaces and 48 outdoor parking spaces.
In December 2016, Novavest Real Estate has provided a purchase agreement for the acquisition of the new construction project and an advance payment in the amount of six million, which was recognized as of December 31, 2016. The total investment for the purchase of the property amounts to 23.35 million. The transfer of ownership took place on July 31, 2017.
