UBS Direct Urban and Residential funds buy up
UBS reports acquisitions in Zurich, Basel and Laupen (ZH) for the Direct Urban and Residential real estate funds.
UBS Direct Urban has acquired a commercial property in the English Quarter in Zurich, effective June 2020. The four-story property dates back to 1890 and was built in the neo-baroque style. The property is characterized by mostly high light-flooded rooms, mostly equipped with herringbone parquet and stucco, UBS said. In 1995, the property was extensively renovated, according to the statement, and with the new lease in 2018, various maintenance works were carried out. The investment volume amounts to about CHF 14.5 million.
In Basel, the fund has purchased a residential and commercial building in the old town of Grossbasel, near Barfüsserplatz. According to UBS, the property was built around 1871 and is located in the zone for city and village protection. There, the outwardly visible historic substance is to be preserved; the building itself is not listed. The property comprises 13 apartments, a restaurant and a hairdresser's store and is fully let. UBS puts the investment volume at around 8 million.
UBS Direct Residential acquired a property with an investment volume of around 10 million at the beginning of June 2020. It comprises three apartment buildings with a total of 23 apartments as well as 34 indoor and six outdoor parking spaces. The buildings were constructed in 1989 as a small housing estate in a neighborhood adjacent to the main street of Laupen (ZH).
