Corporate | 1 July 2024 18:00
Acquisition commercial property
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PSP Swiss Property AG
/ Key word(s): Miscellaneous
PSP Swiss Property buys an attractive commercial property with development potential in the Geneva "Quartier des Banques". As of 28 June 2024, PSP Swiss Property has acquired a commercial property in a very good city centre location in Geneva's "Quartier des Banques" for CHF 58 million. The property has a leasable floor space of approximately 4,150 m 2 (office 3,700 m 2 and storage 450 m 2 ). The Bank Edmond de Rothschild is thus selling its head office and will rent it until the end of June 2026 (sale-lease-back). The building generates an attractive net initial yield of 4 percent and has an attractive development and thus earnings potential in the medium to longer term. PSP Swiss Property intends to reposition the property as a hotel and has worked out a corresponding development option together with a hotel operator during the transaction. The repositioning is intended to make the neighbourhood, where PSP Swiss Property owns six other office properties, even more attractive. 
Further information
PSP Swiss Property – leading Swiss real estate company
PSP Swiss Property has been listed on the SIX Swiss Exchange since March 2000 (symbol: PSPN, security number: 1829415, ISIN CH0018294154).
End of Media Release
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| Language: | English |
| Company: | PSP Swiss Property AG |
| Kolinplatz 2 | |
| 6300 Zug | |
| Switzerland | |
| Phone: | +41417280404 |
| Fax: | +41417280409 |
| E-mail: | info@psp.info |
| Internet: | www.psp.info |
| ISIN: | CH0018294154 |
| Valor: | 1829415 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1937281 |
| End of News | EQS News Service |