Redevco Switzerland sells C&A property in Chur

Redevco Switzerland has sold its C&A property in Chur to Anlagestiftung der UBS für Personalvorsorge (UBS Pension Fund). The property, with a GLA of 2,992 m2, is located in the centre of Chur, Switzerland’s oldest town and the capital of Graubünden (Grisons). The sale reflects its strategy of rebalancing the tenant mix in Switzerland, Redevco said. The financial details were not disclosed.

Separately, Redevco Netherlands announced it has received ISO 14001 certification. The certification, the firm said, is a means to preserve a balance between protecting its profits and protecting the environment. This ties in with Redevco's Business in Balance philosophy. Redevco is one of the first companies in the real estate business to have set up an environmental management system that conforms with the ISO 14001 standard.

'Within Redevco we closely monitor forthcoming legislation and we want to anticipate future actions. This means that Redevco will apply BREEAM and existing and future local energy and emissions standards for all new developments. Redevco is committed to Corporate Responsibility, as witnessed by the publication of its first Corporate Responsibility Report in 2009. The second report is scheduled to appear in the autumn of 2010,' the company said.

Redevco, a Cofra Holding company, manages and develops one of the largest retail real estate portfolios in Europe, with properties in top locations throughout its major cities. Redevco is active in 20 countries, mainly in Europe but also in Asia, where it has opened offices in Hong Kong and New Delhi. It has been actively expanding its activities in the field of shopping centre development. Redevco recently signed its first joint venture agreement to develop a shopping centre in Wuhan, China. The Redevco portfolio, which also includes office buildings and logistics centres, currently comprises over 750 properties with a total value of about EUR 7.2 bn.