· All eight former OVS locations relet
· Roter Turm in Winterthur now fully let
Swiss Prime Site Immobilien achieved significant letting successes in the fourth quarter of 2018 and has thus been able to maintain a vacancy rate of under 5% as planned.
All eight former OVS locations relet
The withdrawal of the fashion chain OVS from the Swiss market in the first half of 2018 also affected properties belonging to Swiss Prime Site Immobilien. A total of around 10 700 m2 became available on the Aarau, Baden, Basel, Frick, Gossau, Lucerne, Thun and Winterthur sites. Their very central locations meant that demand for the attractive properties was high, and new, long-term rental contracts have been signed for all eight sites. The new tenants include banking institutions, food shops and retailers for shoes, accessories and clothing. Due to the change in tenant structure, Swiss Prime Site Immobilien will make investments and carry out construction work on some of the sites. The properties will be handed over to the tenants in the next few months. This process will be completed in 2019. Peter Lehmann, CEO of Swiss Prime Site Immobilien, commented: «We are delighted to hand over OVS’s former retail floor space to various new tenants. I am particularly happy that we were able to significantly reduce the number of fashion/clothing tenants and achieve a higher income for the locations overall».
Roter Turm in Winterthur now fully let
At the end of 2017, Swiss Prime Site Immobilien acquired three buildings in Theaterstrasse in Winterthur next to its Roter Turm. The company aims to continue to develop the collective site and increase the appeal of this unique business and knowledge centre within the city. From the beginning of 2019, the current long-term anchor tenant Zurich University of Applied Sciences (ZHAW) will rent the last remaining space (3 000 m2) in the Roter Turm. This will lend even more weight to the site and the economic centre of Winterthur.