New construction plans for Breitlen residential and care centre in Hombrechtikon
Swiss Prime Site plans to invest in the Breitlen residential and care centre. The property has grounds with an area of 12,134 m2 and consists of a care centre with 52 places, built in 1974, and retirement accommodation dating from 1978 with 20 1-room apartments and 13 2-room apartments. As René Zahnd, Swiss Prime Site's CEO, explains, «We intend to acquire a leasehold on the property and to enter into a service agreement with the municipality of Hombrechtikon under which Tertianum will operate it». The plan is for the existing care centre to be replaced with a new building with a total of some 65 places including a dementia ward. Tertianum, the designated new operator, has a high level of competence in the area of assisted living for seniors. The company currently has operations in 76 locations across 16 Swiss cantons and employees a staff of more than 4,300. The new building is scheduled to open in 2021. The retirement accommodation will be renovated over the next few years while maintaining its essential characteristics. It will remain an important element in the assisted living offered to the residents of Hombrechtikon. Tertianum plans to continue employing the staff currently working at the Breitlen residential and care centre.
Further public private partnership project for Swiss Prime Site and Tertianum
For Swiss Prime Site, this cooperation with the municipality of Hombrechtikon represents a further potential public private partnership. The planned Breitlen residential and care centre in Hombrechtikon ideally complements the offerings already available in the surrounding communities in this district. As Hombrechtikon’s municipal council president Rainer Odermatt puts it, «With Tertianum as the new intended operator of the Breitlen residential and care centre, we will be able to secure the services of an experienced partner who excels in providing high-quality services. This will enable us to offer a viable future to residents and employees alike». A dementia ward is also planned in the new premises in Breitlen, which will not only meet the special needs of the current residents so afflicted but will also accommodate future projected demand. A referendum on the Breitlen proposal will be held on 10 June 2018. The Hombrechtikon municipal council recommends that the electorate votes in favour of the public private partnership option.
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Investor Relations, Markus Waeber
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Swiss Prime Site
Swiss Prime Site is Switzerland’s leading listed real estate company. The value of the Group’s high-quality portfolio exceeds CHF 10 billion and comprises value-retaining properties in prime locations, most of which incorporate office and retail space. Swiss Prime Site Immobilien AG invests in first-class buildings and land. These activities, coupled with transformation and development projects encompassing entire large-scale sites, constitute Swiss Prime Site’s core business. The principal property in the Group’s real-estate-related business is Jelmoli – The House of Brands in Zurich, Switzerland’s leading premium department store. The store’s overall floorspace of 23 800 m2 is divided between Jelmoli formats and shop-in-shop concepts operated by third parties. As Switzerland’s largest and most significant integrated real estate services provider, the Group’s Wincasa division ideally complements Swiss Prime Site’s core business. Wincasa’s innovative service offering covers the entire property life cycle. The value of its assets under management is approximately CHF 66 billion. Tertianum, Switzerland’s leading service provider in the expanding assisted living for seniors field, further complements Swiss Prime Site’s business portfolio. At its more than 76 residential and care centres, Tertianum’s mission is to provide high-quality living accommodation which combines the autonomy senior residents want with the individual services, security, care and support they need. In 2017, the Group established Swiss Prime Site Solutions, an asset management company focusing on the real estate sector. This business field develops tailor made service solutions and investment products for third-party clients.
Swiss Prime Site is notable for its experienced management team, its high level of earnings continuity and its excellent risk/return profile. The company has been listed on SIX Swiss Exchange since 2000 and has a market capitalisation of some CHF 6 billion.
SIX Swiss Exchange / Symbol SPSN / Swiss securities number 803 838