Listed real estate investor Swiss Prime Site (SPS) has purchased the Riverside Business Park in the Swiss canton of Solothurn from an unnamed foreign vendor. The investment volume for the 170,000 m[sup]2[/sup] site near to the River Aare comes to CHF 90 mln (EUR 75 mln).
Listed real estate investor Swiss Prime Site (SPS) has purchased the Riverside Business Park in the Swiss canton of Solothurn from an unnamed foreign vendor. The investment volume for the 170,000 m2 site near to the River Aare comes to CHF 90 mln (EUR 75 mln).
The location was formerly used by manufacturing group Sulzer. The south side has numerous tenants, while the north and east sides offer development opportunities for residential property or other uses in the medium term, SPS said.
'The acquisition of Riverside Business Park highlights our strategy aimed at intensifying the project development business. We are convinced that we can realise added value for the region and the shareholders thanks to our know-how,' said Markus Graf, CEO of Swiss Prime Site.
Swiss Prime Site's portfolio is valued at CHF 8.4 bn and comprises commercial and retail properties situated in prime locations. The company has been listed on the SIX Swiss Exchange since 2000 and reports market capitalisation of around CHF 4.2 bn.
